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
To find Lenny's net worth, we need to subtract his total liabilities from his total assets.
Net Worth = Total Assets - Total Liabilities
Net Worth = $123,600 - $80,250
Net Worth = $43,350
Therefore, Lenny's net worth is $43,350.
The correct answer is C) $43,350.