To find Jasper's net worth, we need to understand what net worth is and how it is calculated.
Net worth is defined as the difference between total assets and total liabilities. The formula to calculate net worth is:
[tex]\[
\text{Net Worth} = \text{Total Assets} - \text{Total Liabilities}
\][/tex]
Based on the given balance sheet, Jasper's financial details are:
Total Assets:
- Cash: \[tex]$1,100
- Investments: \$[/tex]2,300
- Car: \[tex]$12,000
- Guitar: \$[/tex]400
Summing these amounts gives:
[tex]\[
\text{Total Assets} = \$1,100 + \$2,300 + \$12,000 + \$400 = \$15,800
\][/tex]
Total Liabilities:
- Credit card: \[tex]$500
- Rent: \$[/tex]900
- Car loan: \[tex]$3,000
Summing these amounts gives:
\[
\text{Total Liabilities} = \$[/tex]500 + \[tex]$900 + \$[/tex]3,000 = \[tex]$4,400
\]
Now, substitute these totals into the net worth formula:
\[
\text{Net Worth} = \$[/tex]15,800 - \[tex]$4,400 = \$[/tex]11,400
\]
Therefore, Jasper's net worth is \[tex]$11,400.
Among the provided choices, the correct one is:
\[
\$[/tex]15,800 - \[tex]$4,400 = \$[/tex]11,400
\]
