Question

Megan has $500 in short-term savings, $5,000 in her retirement savings account, $500 in credit card debt, and student loan debt of $6,500. Assuming that these are all of Megan's assets and liabilities, what is Megan's net worth?

Answer 1

5.500 - 7,000 = - $__________

Answer 2

-6,994.5

Answer 3

-6450

Answer 4

sorry its -1500

Answer 5

[AI-generated answer — Explain Bot]

To calculate Megan's net worth, we need to subtract her liabilities (debts) from her assets.

First, let's calculate Megan's assets:
- Short-term savings: $500
- Retirement savings account: $5,000

Total assets = $500 + $5,000 = $5,500

Next, let's calculate Megan's liabilities:
- Credit card debt: $500
- Student loan debt: $6,500

Total liabilities = $500 + $6,500 = $7,000

Finally, let's calculate Megan's net worth:
Net worth = Total assets - Total liabilities
Net worth = $5,500 - $7,000

Megan's net worth is -$1,500, which means her liabilities exceed her assets.