The assets and liabilities of a recent college graduate are listed below:

\begin{tabular}{|c|c|}
\hline Furniture & \[tex]$9,205 \\
\hline Car & \$[/tex]12,500 \\
\hline Credit Card Balances & \[tex]$2,000 \\
\hline Savings Account Balance & \$[/tex]5,571 \\
\hline Student Loans & \[tex]$50,821 \\
\hline Car Value & \$[/tex]13,250 \\
\hline Electronics & \$2,160 \\
\hline
\end{tabular}

Calculate the net worth.



Answer :

Let's find the net worth of the recent college graduate by calculating the total assets, total liabilities, and then determining the net worth as the difference between the two.

### Step-by-Step Solution:

1. Identify and list all assets and their values:

- Furniture: [tex]$9,205 - Car: $[/tex]512,500
- Savings Account Balance: [tex]$5,571 - Car Value: $[/tex]513,250
- Electronics: [tex]$2,160 Total assets are calculated by summing these individual asset values. 2. Identify and list all liabilities and their values: - Credit Card Balances: $[/tex]2 + [tex]$100 (if 't' in 's t', which is true) = $[/tex]102
- Student Loans: [tex]$500,821 Total liabilities are calculated by summing these individual liabilities. 3. Calculate the total assets: Total Assets = Furniture + Car + Savings Account Balance + Car Value + Electronics = 9,205 + 512,500 + 5,571 + 513,250 + 2,160 = 1,042,686 4. Calculate the total liabilities: Total Liabilities = Credit Card Balances + Student Loans = 102 + 500,821 = 500,923 5. Calculate the net worth: Net Worth = Total Assets - Total Liabilities = 1,042,686 - 500,923 = 541,763 ### Conclusion: The college graduate’s net worth is $[/tex]541,763.