# First Name Last Name First Name Last Name

• Slides: 9

First. Name Last. Name #

First. Name Last. Name Begin prompt here. Be sure to indent. #

First. Name Last. Name Wealthy: Assets: Debts: Liabilities: Net Worth: Millionaire: Billionaire: #

First. Name Last. Name Millionaires: 1. 2. 3. 4. 5. Billionaires: 1. 2. 3. 4. 5. #

First. Name Last. Name You determine net worth or wealth by using the mathematical formula: Assets – Liabilities = Net Worth Determine the net worth for the people below. The first one is done for you: 1. John has \$46, 500 of total assets and \$22, 500 of total liabilities. Net Worth = \$24, 000 2. Hewitt has \$42, 000 of total assets and \$28, 000 of total liabilities. Net Worth = ____. 3. Jessica has \$100, 000 of total assets and \$39, 000 of total liabilities. Net Worth = ____. 4. Laura has \$75, 000 of total assets and \$88, 000 of total liabilities. Net Worth = ____. 5. Devon has \$1, 500, 000 of total assets and \$700, 000 of total liabilities. Net Worth = ____. #

First. Name Last. Name § John and Susan Brown have been married for 15 years. John is an insurance agent and Susan has just enrolled in Nursing School at the local community college. They have two children. Mike is 13 years old and June is 6 years old. They have decided that their home is now too small for their family. In order to buy a new house, John feels that it is important to know the net worth of the family so a decision can be made about a possible down payment on a new house. He will also need to know their net worth when applying for a mortgage loan for buying a new house. Their assets and liabilities are shown in the following chart. #

First. Name Last. Name Assets and Liabilities Car insurance premium and home insurance premiums Amount \$6, 600 Home furnishings Doll collection Roth IRA Cash on hand Household bills Furniture loan Savings account Home mortgage balance Certificates of Deposit Automotive loans 401 k retirement plan Medical and dental bills Credit cards Checking account Money Market account Home value Bank loan Jewelry Susan’s education loan Department store credit card Unpaid bills 2 automobiles \$35, 000 \$2, 000 \$1, 000 \$2, 200 \$12, 000 \$65, 000 \$10, 000 \$22, 000 \$30, 000 \$2, 500 \$8, 000 \$6, 000 \$10, 000 \$150, 000 \$1, 000 \$20, 000 \$500 \$38, 000 #

# First. Name Last. Name Assets Monetary Assets Cash: Cash on hand Checking accounts Savings accounts Money Market accounts Other Total Cash: Investments: Savings bond Certificates of deposit Stocks Bonds Roth IRA 401 K Retirement account Other investments Total Investments: Personal Property: Home Automobile(s) Computer Furniture Jewelry Other property Doll Collection Total Personal Property: TOTAL ASSETS Total Cash + Total Investments + Total Personal Property) NET WORTH (Total Assets - Total Liabilities) Liabilities Amount Debts Current Debt Medical bills Unpaid household bills Insurance premiums Unpaid utility bills Other unpaid bills Total Current Debt: Credit/Charge Card Balances: Credit cards Department store cards Other Total Credit/Charge Card Balances: Loans: Home mortgage balance Bank/Finance Company loan Automobile(s) loan Education loan Furniture loan Other Total Loans: TOTAL LIABILITIES (Total Current Debt + Total Credit Card Debt + Total Loans) Amount

First. Name Last. Name Begin prompt here. Be sure to indent. #