The personal assets and liabilities of a carpenter are listed below.

\begin{tabular}{|l|l|}
\hline Home Value & [tex]$\$[/tex] 175,742[tex]$ \\
\hline Mortgage & $[/tex]\[tex]$ 76,765$[/tex] \\
\hline Credit Card Balance & [tex]$\$[/tex] 2,055[tex]$ \\
\hline Owned Work Equipment & $[/tex]\[tex]$ 3,365$[/tex] \\
\hline Car Value & [tex]$\$[/tex] 44,346[tex]$ \\
\hline Investments & $[/tex]\[tex]$ 61,225$[/tex] \\
\hline Truck Loan & [tex]$\$[/tex] 66,408[tex]$ \\
\hline
\end{tabular}

What is the carpenter's net worth?

A. $[/tex]\[tex]$ 139,450$[/tex]

B. [tex]$\$[/tex] 145,228[tex]$

C. $[/tex]\[tex]$ 281,313$[/tex]

D. [tex]$\$[/tex] 284,678$



Answer :

To determine the carpenter's net worth, we need to follow these steps:

1. Calculate Total Assets: Add up all the values of the carpenter's assets.

[tex]\[ \text{Total Assets} = \text{Home Value} + \text{Owned Work Equipment} + \text{Car Value} + \text{Investments} \][/tex]

Plug in the given values:

[tex]\[ \text{Total Assets} = 175,742 + 3,365 + 44,346 + 61,225 = 284,678 \][/tex]

2. Calculate Total Liabilities: Add up all the amounts the carpenter owes.

[tex]\[ \text{Total Liabilities} = \text{Mortgage} + \text{Credit Card Balance} + \text{Truck Loan} \][/tex]

Plug in the given values:

[tex]\[ \text{Total Liabilities} = 76,765 + 2,055 + 66,408 = 145,228 \][/tex]

3. Calculate Net Worth: Subtract the total liabilities from the total assets.

[tex]\[ \text{Net Worth} = \text{Total Assets} - \text{Total Liabilities} \][/tex]

Plug in the calculated totals:

[tex]\[ \text{Net Worth} = 284,678 - 145,228 = 139,450 \][/tex]

Therefore, the carpenter's net worth is [tex]\(\$ 139,450\)[/tex]. The correct option is:

[tex]\[ \$ 139,450 \][/tex]