math 7 Unit 11 Financial Literacy 7.13C

What is Net Worth? To win with money, you'll need to learn the language of money. One of the terms to understand is net worth, which is basically how much money a person, family, or business can claim as total value. Your net worth is figured by subtracting all of your liabilities (the things you owe, including any debt) from the value of all of your assets (the things you own and the money you have).Source: Dave Ramsey Sort the below items into assets and liabilities. Assets Checking Account Savings Account Current Vehicle Value Investments Current Home Value Liabilities Credit Card Debt Student Loans Medical Bill Debt Robin is trying to calculate her net worth so that she can purchase a new home next year. Robin determines that her total assets are worth $95,250.00 and her liabilities are worth $48,280.00. Explain in your own words how Robin could determine her net worth and how much her net worth is valued in dollars and cents. Ellie created the above net worth statement. Determine her total net worth based on her table. $13,430 $695 $880 $12,735 Fill in the blank space on the table for the total assets, total liabilities, and total net worth. Don't forget to add your commas and $ to your answers. $86,220 $5,620 $80,600