Sebastian owns a car that is worth $4, 500, a coin collection worth $250, and has $2, 500 in his checking account. He owes $1, 500 on his credit card and $2, 000 for a medical bill. What is Sebastians net worth?

MONEY MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Sebastian owns a car that is worth $4, 500, a coin collection worth $250, and has $2, 500 in his checking account. He owes $1, 500 on his credit card and $2, 000 for a medical bill. What is Sebastian’s net worth?

A	$10, 750
B	$3, 750
C	$7, 750
D	None of the above

Explanation:

Detailed explanation-1: -To calculate your net worth, you subtract your total liabilities from your total assets. Total assets will include your investments, savings, cash deposits, and any equity that you have in a home, car, or other similar assets. Total liabilities would include any debt, such as student loans and credit card debt.

Detailed explanation-2: -An asset is anything with monetary value. This can include things like cash, checking and savings accounts, stocks, bonds, mutual funds, and retirement accounts. Assets also include personal property, such as real estate, vehicles and jewelry.

Detailed explanation-3: -The economic factors that most affect the demand for consumer goods are employment, wages, prices/inflation, interest rates, and consumer confidence.

Detailed explanation-4: -Anything of financial value to a business or individual is considered an asset. Liquid assets, however, are the assets that can be easily, securely, and quickly exchanged for legal tender. Your inventory, accounts receivable, and stocks are examples of liquid assets-things you can quickly convert to hard cash.

There is 1 question to complete.

ECONOMICS (CBSE/UGC NET)

ECONOMICS

MONEY MANAGEMENT