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Deandre Willis is single and owns a hair salon. He has calculated the following assets and liabilities. Find DeAndre‘s net worth.

ASSETS
- current value of the hair salon: $180,000
- current value of car: $12,500
- checking account balance: $1,300
- combined savings: $18,000
- balance in retirement account: $30,000
- current value of owned electronics: $20,000

LIABILITIES
- remaining balance on mortgage: $120,000
- remaining balance on personal loan: $4,600
- combined credit card debt: $23,000

Sagot :

Given the value of DeAndre‘s assets and liabilities, his net worth is $114,200.

What is the net worth?

Net worth is the value of the assets less the liabilities.

Net worth = assets - liabilities

Assets = $180,000 + $12,500 +  $1,300 + $18,000 + $30,000 + $20,000= $261,800

Liabilities = $120,000 + $4,600 + $23,000 = $147,600

Net worth = $261,800 -  $147,600 = $114,200

To learn more about liabilities, please check: https://brainly.com/question/26513242

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