Question: Net Worth Statement
Assets
+
Checking Balance
$605
Savings Balance
$250
Monthly Allowance
$125
Total
$[?]
Liabilities
—
Phone payment
$90
Lunch payment
$375
Credit Card Debt
$250
Total
Calculators are OK!
Calculate the
total value of
all assets.
1. **State the problem:** Calculate the total value of all assets given the Checking Balance, Savings Balance, and Monthly Allowance.
2. **List the assets:**
- Checking Balance = $605$
- Savings Balance = $250$
- Monthly Allowance = $125$
3. **Formula:**
$$\text{Total Assets} = \text{Checking Balance} + \text{Savings Balance} + \text{Monthly Allowance}$$
4. **Substitute the values:**
$$\text{Total Assets} = 605 + 250 + 125$$
5. **Calculate step-by-step:**
$$605 + 250 = 855$$
$$855 + 125 = 980$$
6. **Final answer:**
$$\boxed{980}$$
The total value of all assets is $980$.