House (current value) $95,000
Checking account $2,300
Automobile $15,750
Investments $10,550
Total Assets $123,600
Liabilities
Mortgage $80,000
Credit card debt $250
Total Liabilities $80,250
Based on the information in the statement, what is Lenny’s net worth?
Responses
A $203,850$203,850
B $52,350$52,350
C $43,350$43,350
D $44,350$44,350
Lenny's net worth can be calculated by subtracting his total liabilities from his total assets.
Net worth = Total assets - Total liabilities
= $123,600 - $80,250
= $43,350
Therefore, Lenny's net worth is $43,350.
The correct answer is C) $43,350.