At the End of 2005,Phil Had a Net Worth of $10,000.During

Multiple Choice

At the end of 2005,Phil had a net worth of $10,000.During 2008,he plans to save $2,000 and he also expects the market value of his assets to increase by 5%.If Phil's total liabilities were $4,000 at December 31,2007,his December 31,2008 net worth will be

A) $12,000.
B) $12,500.
C) $12,700.
D) $12,800.