Cheyenne owns a car worth $5,200 and a motorcycle worth $2,600. Her only debt is the $800 she still owes her father for the car. How much is her net worth?
Net worth is total assets minus total liabilities. Assuming the car and motorcycle are her only assets, their total is $7800. Subtract the $800 she still owes which is a debt/liability and you have her net worth of 7 thousand.
