Jordan has the following assets and liabilities: $$\begin{array} { l l r }
\text { Two cars } & \$ 10,000 \
\text { House } & \$ 200,000 \
\text { Mortgage } & \$ 100,000 \
\text { Cash } & \$ 1,000 \
\text { Car loans } & \$ 3,000 \
\text { Checking account balance } & \$ 2,000 \
\text { Credit card balance } & \$ 1,000
\end{array}$$
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 ______.

Question

Jordan has the following assets and liabilities: $$\begin{array} { l l r } 
\text { Two cars } & \$ 10,000 \
\text { House } & \$ 200,000 \
\text { Mortgage } & \$ 100,000 \
\text { Cash } & \$  1,000 \
\text { Car loans } & \$  3,000 \
\text { Checking account balance } & \$ 2,000 \
\text { Credit card balance } & \$ 1,000
\end{array}$$
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 ______.

Quizplus · Accepted Answer

The Answer of Jordan has the following assets and liabilities: $$\begin{array} { l l r } 
\text { Two cars } & \$ 10,000 \
\text { House } & \$ 200,000 \
\text { Mortgage } & \$ 100,000 \
\text { Cash } & \$  1,000 \
\text { Car loans } & \$  3,000 \
\text { Checking account balance } & \$ 2,000 \
\text { Credit card balance } & \$ 1,000
\end{array}$$
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 ______.

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