Personal Finance 1st Edition by Jack R. Kapoor

Exercise 5

Calculating Net Worth. Shelly’s assets include money in checking and savings accounts, investments in stocks and mutual funds, and personal property, including furniture, appliances, an automobile, a coin collection, and jewelry. Shelly calculates that her total assets are $108,800. Her current unpaid bills, including an auto loan, credit card balances, and taxes total $16,300. Calculate Shelly’s net worth. (Obj. 2)

Step 1 of 4

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Net Worth:-

Net worth is the difference between total assets and total liabilities.

Formula:-