Assets
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 $
What is the net worth
To calculate 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) = $155,250
Total Liabilities = Mortgage ($114,500) + Credit card balance ($3,062) = $117,562
Net Worth = Total Assets - Total Liabilities = $155,250 - $117,562 = $37,688
The net worth is $37,688.