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NAME DIRECTIONS Use the information below to fill out a consumer equity form and calculate the net worth for each family. Net worth can be a useful tool to measure your financial progress from year to year. Your net worth is a grand total of all assets (what you own) minus liabilities (what you owe; debts). It's important to understand that your income isn't the only factor that determines your wealth. Occupation Annual Income Retirement Investments Real Estate Vehicles Credit Card Debt Emergency Fund Checking Account Household Items Nurse and Sales FAMILY A $105,000 combined $35,000 Owns a house appraised at $224,000 with a mortgage balance of $202,000 New truck with Blue Book value of $32,000; owes $35,000 Used SUV with a retail value of $17,500; owes $14,500 $13,000 $1,000 $2,500 DATE Antiques: $5,000 Appliance Installer $45,000 FAMILY B $22,000 Owns a house appraised at $180,000 with a mortgage balance of $126,000 Used sedan with retail value of $9,500; paid for None $5,000 $650 Electronics: $3,500

NAME DIRECTIONS Use the information below to fill out a consumer equity form and calculate the net worth for each family. Net worth can be a useful tool to measure your financial progress from year to year. Your net worth is a grand total of all assets (what you own) minus liabilities (what you owe; debts). It's important to understand that your income isn't the only factor that determines your wealth. Occupation Annual Income Retirement Investments Real Estate Vehicles Credit Card Debt Emergency Fund Checking Account Household Items Nurse and Sales FAMILY A $105,000 combined $35,000 Owns a house appraised at $224,000 with a mortgage balance of $202,000 New truck with Blue Book value of $32,000; owes $35,000 Used SUV with a retail value of $17,500; owes $14,500 $13,000 $1,000 $2,500 DATE Antiques: $5,000 Appliance Installer $45,000 FAMILY B $22,000 Owns a house appraised at $180,000 with a mortgage balance of $126,000 Used sedan with retail value of $9,500; paid for None $5,000 $650 Electronics: $3,500

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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DIRECTIONS Use the information below to fill out a consumer equity form and calculate the net worth for each family. Net worth can be a useful tool to measure your financial progress from year to year. Your net worth is a grand total of all assets what vou own) minus liabilities (what vou owe: debts). It's important to understand that vour income Isn tine only Tactor that determines your wealtn. Occupation Annual Income Retirement Investments Real Estate Vehicles Credit Card Debt Emergency Fund Checking Account Household Items FAMILY A FAMILY B Nurse and Sales Appliance Installer $105,000 combined $45,000 $35,000 $22,000 Owns a house appraised at $224,000 with a mortgage balance of $202.000 Owns a house appraised at $180,000 with a mortgage balance of $126,000 New truck with Blue Book value Used sedan with retail value of $32,000; owes $35,000 of $9,500; paid for Used SUV with a retail value of $17,500; owes $14,500 $13,000 None $1.000 $5.000 $2,500 $650 Antiques: $5,000 Electronics: $3,500 what’s family a ? Family A's Consumer Equity ITEM VALUE - Real Estate DEBT = Vehicle Vehicle Checking Account Savings Account Retirement Investments Household Items Credit Card Debt TOTAL = ASSETS LIABILITIES P FOUNDATIONS IN PERSONAL FINANCE Calculating Your Net Worth CHAPTER 1, LESSON 4 Family B's Consumer Equity ITEM VALUE DEBT 74 Submit EQUITY NET WORTH what’s family b? Family B's Consumer Equity ITEM Real Estate VALUE - DEBT = EQUITY Vehicle Vehicle Checking Account Savings Account Retirement Investments Household Items Credit Card Debt TOTAL ASSETS LIABILITIES NET WORTH
Calculating Your Net Worth CHAPTER 1, LESSON 4 NAME Occupation DIRECTIONS Use the information below to fill out a consumer equity form and calculate the net worth for each family. Net worth can be a useful tool to measure your financial progress from year to year. Your net worth is a grand total of all assets (what you own) minus liabilities (what you owe; debts). It's important to understand that your income isn't the only factor that determines your wealth. Annual Income Retirement Investments Real Estate Vehicles Credit Card Debt Emergency Fund Checking Account ch Household Items R FOUNDATIONS IN PERSONAL FINANCE Nurse and Sales $105,000 combined FAMILY A $35,000 Owns a house appraised at $224,000 with a mortgage balance of $202,000 New truck with Blue Book value of $32,000; owes $35,000 Used SUV with a retail value of $17,500; owes $14,500 $13,000 $1,000 $2,500 DATE Antiques: $5,000 FAMILY B Appliance Installer $45,000 $22,000 Owns a house appraised at $180,000 with a mortgage balance of $126,000 Used sedan with retail value of $9,500; paid for None $5,000 $650 Electronics: $3,500 PAGE 1 OF 4
Transcribed Image Text:Calculating Your Net Worth CHAPTER 1, LESSON 4 NAME Occupation DIRECTIONS Use the information below to fill out a consumer equity form and calculate the net worth for each family. Net worth can be a useful tool to measure your financial progress from year to year. Your net worth is a grand total of all assets (what you own) minus liabilities (what you owe; debts). It's important to understand that your income isn't the only factor that determines your wealth. Annual Income Retirement Investments Real Estate Vehicles Credit Card Debt Emergency Fund Checking Account ch Household Items R FOUNDATIONS IN PERSONAL FINANCE Nurse and Sales $105,000 combined FAMILY A $35,000 Owns a house appraised at $224,000 with a mortgage balance of $202,000 New truck with Blue Book value of $32,000; owes $35,000 Used SUV with a retail value of $17,500; owes $14,500 $13,000 $1,000 $2,500 DATE Antiques: $5,000 FAMILY B Appliance Installer $45,000 $22,000 Owns a house appraised at $180,000 with a mortgage balance of $126,000 Used sedan with retail value of $9,500; paid for None $5,000 $650 Electronics: $3,500 PAGE 1 OF 4
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