Use the table to answer the question.
Assets Value
Car $36,000
Computer $1,115
Savings account $27,844
Retirement savings $90,291
Total Assets
Liabilities Balance Owed
Mortgage $114,500
Credit card balance $3,062
Total Liabilities
Net Worth
Constructing the table, what is the net worth?
(1 point)
Responses
$43,812
$43,812
$155,250
$155,250
$37,688
$37,688
$117,562
To find the net worth, you need to subtract the total liabilities from the total assets.
Total assets:
Car - $36,000
Computer - $1,115
Savings account - $27,844
Retirement savings - $90,291
Total liabilities:
Mortgage - $114,500
Credit card balance - $3,062
Total assets: $36,000 + $1,115 + $27,844 + $90,291 = $155,250
Total liabilities: $114,500 + $3,062 = $117,562
Net worth: Total assets - Total liabilities = $155,250 - $117,562 = $37,688
Therefore, the net worth is $37,688.