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 | $650; bike | $140; car | ?. Owes (liabilities): dentist | $90; phone | $130. Net worth | $4,370.

2. 1.

   Pia reads Ms. Hale's pretend net worth record. The net worth is $4,370. What is the value of the missing car?

   $3,800

3. 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.

4. 2.

   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

5. Use this

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

6. 3.

   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

7. Use this

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

8. 4.

   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

9. Use this

   Net worth record. Owns (assets): savings | $2,300; furniture | $700; car | $4,800. Owes (liabilities): car | $2,600; phone | $85.

10. 5.

    Milo reads Ms. Frost's pretend net worth record. Then the car, worth $4,800, loses 20% of its value. What is the net worth now?

    $4,155
11. 6.

    Ms. Hale owns $4,500 and owes $1,200. Mr. Dunn owns $5,100 and owes $2,700. Noah compares the pretend records. How many more dollars is Ms. Hale's net worth?

    $900
12. 7.

    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
13. 8.

    Ms. Hale owns $5,200 and owes $2,800. Mr. Dunn owns $4,600 and owes $1,100. Tala compares the pretend records. Who has the greater net worth?

    • Mr. Dunn.
    • Ms. Hale.
    • They are the same.
14. 9.

    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.
    • Ms. Shaw.
    • Mr. Grove.
15. 10.

    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.
    • Ms. Wells.
    • Mr. Vance.