AIR MATH

Math Question

19 Phillip areated the net worth statement shown.
Net Worth Statement
\begin{tabular}{|l|r|}
\hline Assets & \multicolumn{1}{|c|}{ Value } \\
\hline House (current value) & \( \$ 85,000 \) \\
\hline Checking account & \( \$ 2,500 \) \\
\hline Automobile & \( \$ 18,500 \) \\
\hline Investments & \( \$ 7,000 \) \\
\hline Total Assets & \( \$ 113,000 \) \\
\hline & \\
\hline Liabilities & \\
\hline Mortgage & \( \$ 62,000 \) \\
\hline Credit card debt & \( \$ 9,500 \) \\
\hline Total Liabilities & \( \$ 71,500 \) \\
\hline
\end{tabular}
Based on the information in the statement, what is Phillip's net worth?
A \( \$ 184,500 \)
B \( \$ 41,500 \)
C \( -\$ 71,500 \)
D \( -\$ 41,500 \)

Solution

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