Question

Cheyenne owns a car worth $5,200 and a motorcycle worth $2,600. Her only debt is the $800 she still owes her father for the car. How much is her net worth?

Answer 1

$7,000

Net worth is total assets minus total liabilities. Assuming the car and motorcycle are her only assets, their total is $7800. Subtract the $800 she still owes which is a debt/liability and you have her net worth of 7 thousand.