# Math question help

**Question description**

1. Keiquan is calculating his net worth. He has listed these items: $50
rare baseball card, $15 cash, $10 owed for lunch, $25 in savings
account. Which is not an asset? (Points : 1)

baseball card

cash

lunch bill

savings account

2. These are Tommy's calculations for his net worth: Net Worth = $321 -
$350 = -$29. What does the negative net worth mean? (Points : 1)

His liabilities are larger than his assets.

His assets are larger than his liabilities.

His assets and liabilities are the same.

His assets and liabilities do not affect each other.

3. The Thompson family made this table when finding their net worth. Use this table to answer questions 3-7.

Assets Value Liabilities Value

Checking and Savings $2,378 Auto Loan $4,502

Automobile $8,765 Credit Cards $435

House Value $135,000 Mortgage $51,208

Furniture, etc. $13,900 Other Loans $1,234

Miniature Collection $238

What are the total assets?

(Points : 1)

$170,890

$160,281

$165,782

$167,345

4. What is the total of the Thompson's liabilities? (Points : 1)

$56,295

$58,285

$56,325

$57,379

5. What is the Thompson's net worth? (Points : 1)

$103,256

$108,902

$102,902

$104,586

6. The Thompsons needed to repair their home and took out a home equity
loan for $5,000. What is their net worth now? (Points : 1)

$102,796

$97,902

$107,796

$100,296

7. In the original table for the Thompsons, how much of their net worth is readily available for use? (Points : 1)

$2378

$2616

$11,143

$12,345

8. Kyle's net worth is $500 and his liabilities are $459. What is the total of his assets? (Points : 1)

$41

$459

$959

$1059

9. Art's grandfather is on a fixed income. Which of the following is true? (Points : 1)

Inflation causes his purchasing power to go down.

Inflation causes his purchasing power to go up.

Inflation has no effect on his purchasing power.

10. Freaky Flakes cost $1.78 last year. This year a box costs $2.59.
What is the inflation rate, to the nearest tenth percent? (Points : 1)

44.1%

45.5%

46.8%

47.3%

11. Amy, a senior, bought a car last year so that she could drive to
school on the days when she needed to stay after class for practice. She
spent $155 last year for gas. This year she spent $195. Disregarding
other factors, what is the inflation rate? (Points : 1)

27.1%

25.2%

26.8%

25.8%

12. If your annual income from a part-time job is $2,698, and the
inflation rate is 4 percent, what is the purchasing power of your
income? (Points : 1)

$2498.03

$2428.03

$2590.08

$2678.01

13. Bart had an income of $45,670 last year. If the inflation rate is 4.5%, what is his purchasing power? (Points : 1)

$43,614.85

$43,924.95

$44,543.75

$44,998.15

## Tutor Answer

## 8 Reviews

**Quality**

**Communication**

**On Time**

**Value**

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors