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.
