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As of December 31, 2018, Lydia Green had total assets of $41,300 and total liabilities of $16,800. As of December 31, 2019, Lydia's total assets decreased to $39,000 and total liabilities increased to $23,900. How has Lydia's net worth changed since the end of 2018?

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Answer:

To calculate Lydia’s net worth change, we can use the formula:

Net Worth = Total Assets - Total Liabilities

Using this formula, we can calculate Lydia’s net worth for both 2018 and 2019.

For 2018: Net Worth = $41,300 - $16,800 Net Worth = $24,500

For 2019: Net Worth = $39,000 - $23,900 Net Worth = $15,100

Lydia’s Net Worth Change Therefore, Lydia’s net worth has changed by ($24,500 - $15,100) = $9,400 since the end of 2018.

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