Megan has $500 in short-term savings, $5,000 in her retirement savings account, $500 in credit card debt, and student loan debt
2 answers:
Given, the amount Megan has in short term savings = $500.
The amount in retirement savings account = $5000.
The amount in credit card debt = $500.
The amount in student loan debt = $6500.
So total assets of Megan = Sum of short term savings and retirement savings.
Total asset = $500 + $5000 = $ = $
Total liabilities of Megan = sum of credit card debt and student loan debt.
Total liability = $ 500 + $6500 = $ = $
Now to find Megan's net worth we have to subtract total liability from total asset.
So Megan's net worth = $5500-$7000 = $ = $
So we have got the required answer.
Net worth of Megan = -$1500.
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