Question

Anthony has a college savings account with $8,657 in it. He has $347 in his checking account.
He currently has $45 in his wallet in cash, but he owes Yenny $186 for a personal loan that she
gave him. Anthony owns a limited edition pair of Jordan's that are worth $4,500. What is
Anthony's net worth?

assets? value? liabilities? amount?

Answer 1

Answer:

$13,363

Explanation:

Net-worth is the difference between an individual's assets and liabilities. In other words, net-worth is equal to assets - liabilities.

Anthony's  assets

College savings account  $8,657

checking account      $347

Cash          $45

Pair of Jordan's   $4500

Total assets     $13,549

His liabilities

A personal loan from Yenny $186

Net-worth = $13,549- $186

=$13,363