What you own, what you owe, and net worth

Answer Key - Grade 7 Math Worksheet - Challenge Me

Circle the best answer, or write your answer on the line.

1. Read this first

   Use this

   Net worth record. Owns (assets): savings | $1,250; furniture | $600; car | ?. Owes (liabilities): car | $2,100; electric bill | $140. Net worth | $3,810.

2. 1.

   Ren reads Mr. Cole's pretend net worth record. The net worth is $3,810. What is the value of the missing car?

   $4,200

3. Use this

   Net worth record. Owns (assets): savings | $820; laptop | $480; car | ?. Owes (liabilities): laptop | $150; dentist | $60. Net worth | $6,190.

4. 2.

   Tala reads Ms. Frost's pretend net worth record. The net worth is $6,190. What is the value of the missing car?

   $5,100

5. Use this

   Net worth record. Owns (assets): savings | $900; a car | $3,600. Owes (liabilities): the car | $1,800; a phone | $90.

6. 3.

   Ari reads Ms. Shaw's pretend net worth record in the table. A payment of $300 from savings goes toward the car. What is the net worth afterward?

   $2,610

7. Use this

   Net worth record. Owns (assets): savings | $1,300; furniture | $640; car | $3,800. Owes (liabilities): car | $2,100; electric bill | $140.

8. 4.

   Kira reads Ms. Wells's pretend net worth record. Then the car, worth $3,800, loses 10% of its value. What is the net worth now?

   $3,120

9. Use this

   Net worth record. Owns (assets): savings | $840; laptop | $480; bike | $190. Owes (liabilities): laptop | $150; dentist | $60.

10. 5.

    Luz reads Ms. Hale's pretend net worth record. Then the laptop, worth $480, loses 30% of its value. What is the net worth now?

    $1,156
11. 6.

    Ms. Shaw owns $6,300 and owes $1,700. Mr. Grove owns $7,100 and owes $3,600. Ren compares the pretend records. How many more dollars is Ms. Shaw's net worth?

    $1,100
12. 7.

    Ms. Shaw owns $7,200 and owes $2,400. Mr. Grove owns $6,100 and owes $900. Ari compares the pretend records. Who has the greater net worth?

    • They are the same.
    • Mr. Grove.
    • Ms. Shaw.
13. 8.

    Ms. Wells owns $4,800 and owes $1,500. Mr. Vance owns $4,100 and owes $1,800. Bo compares the pretend records. Who has the greater net worth?

    • They are the same.
    • Mr. Vance.
    • Ms. Wells.

14. Use this

    Net worth record. Owns (assets): savings | $350; a car | $3,200; furniture | $400. Owes (liabilities): the car | $4,100; the dentist | $100.

15. 9.

    Esme reads Mr. Cole's pretend net worth record. More is owed on the new car than it is worth. What is the net worth in dollars? Use a minus sign if it is below zero.

    -$250

16. Use this

    Net worth record. Owns (assets): savings | $800; a car | $4,600; a guitar | $300. Owes (liabilities): the car | $5,500; furniture | $900.

17. 10.

    Jun reads Mr. Dunn's pretend net worth record. More is owed on the new car than it is worth. What is the net worth in dollars? Use a minus sign if it is below zero.

    -$700