Net Worth Calculation Worksheet
A Grade 11 math worksheet focused on understanding and calculating net worth, including assets, liabilities, and financial planning.
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Net Worth Calculation Worksheet
Name:
Date:
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Read each question carefully and provide your answers in the space provided. Show all calculations where necessary.
1. Which of the following is considered an asset?
Credit card debt
Mortgage loan
Savings account balance
Student loan
2. Net worth is calculated by subtracting liabilities from what?
Income
Expenses
Assets
Investments
3. The total value of everything an individual owns is called their .
4. Debts and financial obligations are known as .
5. A positive net worth indicates that an individual's exceed their .
6. List three examples of assets and three examples of liabilities that a typical Grade 11 student might have.
7. Calculate the net worth for the following individual:
Assets:
Savings Account: $1,500
Car (market value): $8,000
Investments: $2,000
Liabilities:
Student Loan: $5,000
Credit Card Debt: $500
Car Loan: $3,000
Net Worth:
8. A high net worth always means a person has a high income.
True
False
9. Increasing your assets and decreasing your liabilities will increase your net worth.
True
False
10. Explain why understanding your net worth is important for long-term financial planning. Discuss at least two benefits.