Question

Joaquin has $1,300 in the bank and has investments worth $4,000. He also has $7,000 worth of credit card debt. What is Joaquin's net worth

Answer 1

$7,000 + $5,300 = $12,300

Total amount in bank = $1,300
Account Receivable = $4,000
Money available on account = $7,000

$7,000 + $4,000 = $11,000 + $1,300 = $12,300

Joaquin's net worth is $12,300.