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Amanda Has Cash of $100, a Car Worth $5,000, and Books

question 109

Essay

Amanda has cash of $100, a car worth $5,000, and books worth $200. Her liabilities include a car loan of $2,000 and a credit card balance of $100. What is the total of her assets, liabilities, and net worth?


Definitions:

Lewis Terman

An American psychologist best known for his work in intelligence testing and for initiating the longitudinal study of gifted children.

Longitudinal Study

A research method in which data is collected from the same subjects repeatedly over a period of time, often many years.

Optimistic Explanatory Style

Refers to a manner of explaining life events in a positive light, attributing good outcomes to personal abilities and bad outcomes to external factors.

Pessimistic Explanatory Style

The inclination to ascribe adverse occurrences to constant, inherent, and widespread factors.

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