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Jordan Has the Following Assets and Liabilities Suppose That Jordan Wins $100,000 in the Lottery

Question 12

Multiple Choice

Jordan has the following assets and liabilities:  Tuo cars $10,000 House $200,000 Mortgage $100,000 Cash $1,000 Car loars $3,000 Checkire accourtbalarce $2,000 Credit card balarce $1,000\begin{array} { l | r } \hline \text { Tuo cars } & \$ 10,000 \\\text { House } & \$ 200,000 \\\text { Mortgage } & \$ 100,000 \\\hline \text { Cash } & \$ 1,000 \\\text { Car loars } & \$ 3,000 \\\hline \text { Checkire accourtbalarce } & \$ 2,000 \\\text { Credit card balarce } & \$ 1,000\end{array}  
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; not change
B) not change; increase to $207,000
C) increase to $209,000; increase to $209,000
D) increase to $207,000; not change

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