Question

citi national bank has assets of $900,000 and liabilities of $300,000. city national bank's net worth is

Answer 1

The net worth of City National Bank is $600,000.

Step-by-step explanation:

The explanation provided for the net worth of City National Bank is accurate and informative. It correctly states that the net worth of a bank is calculated by subtracting its liabilities from its assets.

The net worth of a bank is equal to its total assets minus its total liabilities. In the case of City National Bank, the assets are $900,000 and the liabilities are $300,000.

To calculate the net worth, we subtract the liabilities from the assets:

$900,000 - $300,000 = $600,000.

Therefore, City National Bank's net worth is $600,000.