Sharon has two liabilities: a credit card balance of $1300 and a car loan balance of $4800. Sharon car has a market value of $9000 she also has a balance of $1450 in her saving account and has stocks that are currently worth $1050. What is Sharon’s net worth?

Given:

Sharon has two liabilities: a credit card balance of $1300 and a car loan balance of $4800.

Car = $9000

Balance in her saving account = $1450

Stocks = $1050.

To find:

Sharon’s net worth.

Solution:

Total liabilities = Credit card balance + Car loan balance

                        = $1300 + $4800

                        = $6100

Total Assets = Car + Balance in her saving account + Stocks

                     = $9000 + $1450 + $1050

                     = $11500

Now,

Net worth = Total assets - Total liabilities

                 = $11500 - $6100

                = $5400

Therefore, Sharon’s net worth is $5400.