Question

Susan owns a home that is worth $128,318.74, a 2005 truck worth $10,615.00, and has investments that total $4,459.16. Susan owes $93,987.74 on her mortgage, $2,874.46 in student loans, and $1,214.92 on her credit card. What is Susan's Net Worth?

Answer 1

Answer:

Net worth is defined as:

Assets - Liabilities.

Assets are what you own.

Liabilities are what you have to pay.

So, home + truck + investments are assets.

Likewise, mortgage + student loans + credit cards are liabilities.

Doing the math, Susan's net worth is

Assets - Liabilities

$143,392.90 - $98,077.12 =

$45,315.78

Susan's net worth is $45,315.78

Good luck!