Jordan has the following assets and liabilities:Two cars$10,000House$200,000Mortgage$100,000Cash$1,000Car loans$3,000Checking account balance$2,000Credit card balance$1,000 Suppose that Jordan wins $100,000 in the lottery. If he uses that money to pay off his mortgage, his wealth would ________; if he puts that money in his checking account, his wealth would ________;

A. increase to $209,000; increase to $209,000
B. increase to $207,000; not change
C. increase to $209,000; not change
D. not change; increase to $207,000


Answer: A

Economics

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