You have a sneaker collection worth $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets? (1 point)

Question

You have a sneaker collection worth $2,000, and you have $300 in your savings account. But you also have a credit card balance of $200. What are your total assets? (1 point)

Answer 1

To calculate your total assets, you add the value of your sneaker collection, the amount in your savings account, and the negative balance of your credit card:

Total assets = Sneaker collection + Savings account + Credit card balance
= $2,000 + $300 + (-$200)
= $2,000 + $300 - $200
= $2,100

Therefore, your total assets are $2,100.