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Assets are any items of value that is owned by an Individual. Llabilities are any debtsþwed by an Individual. Your net worth is the value of your assets minus your liabilities.Net Worth = Assets - LiabilitiesThe table shows Chuck's assets and liabilities. What is Chuck's net worth?Items Value (5)Cash and savings475Credit card debt5,4053,645CarClothes475Student loan2,565O $12,565O -$3,375$7,435O $3,375

Assets are any items of value that is owned by an Individual Llabilities are any debtsþwed by an Individual Your net worth is the value of your assets minus you class=

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Answer : Net worth = -$3,375

Net worth = Assets - liabilities

Items that are classified under liabilities are

Credit card debt = $5, 405

Student loan = $2, 565

Items that are classified under assets are

Cash and savings = $475

Car = $3, 645

Clothes = $475

Sum of the liabilities in dollars = 5, 405 + 2, 565

= $ 7, 970

sum of all the assets = 475 + 3, 645 + 475

= $ 4, 595

Net worth = Assets - liabilities

Net worth = 4, 595 - 7, 970

Net worth = - $ 3, 375

Therefore, Chuck's net worth is -$3, 375

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