1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
prohojiy [21]
3 years ago
15

Jordan has the following assets and liabilities: Two cars $10,000 House $200,000 Mortgage $100,000 Cash $1,000 Car loans $3,000

Checking account balance $2,000 Credit 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_____;
Business
1 answer:
kirill [66]3 years ago
7 0

Answer: B. increase to $209,000;increase to $209,000

Explanation:

<em>If he uses that money to pay off his mortgage, his wealth would </em><em><u>increase to $209,000</u></em><em> if he puts that money in his checking account, his wealth would </em><em><u>increase to $209,000.</u></em>

<u></u>

A person's wealth is calculated by deducting their liabilities from assets. In this case Jordan's wealth is;

= 10,000 + 200,000 + 1,000 + 2,000 - 100,000 - 3,000 - 1,000

= $109,000

If he pays off the Mortgage his debt will reduce by $100,000 which will increase his wealth to $209,000.

If he puts the money in his checking account, his assets will increase by $100,000 which will bring his wealth to $209,000 as well.

You might be interested in
The presence of formal labor organizations in the united states dates back to the
ivann1987 [24]
HEY THERE. 

THE CORRECT ANSWER IS <span>The presence of formal labor organizations in the united states dates back to the LATE 1700S 

HOPE IT HELPS THANK YOU :)
</span>
6 0
3 years ago
A strategy is: Multiple Choice an action plan to maximize rewards in the current period in return for big risks. a procedure for
Strike441 [17]

Answer:

An action plan to achieve specific long term goals and objectives. based on the plans formed later resources are allocated. But initially long term goals and objectives are to be framed which is the main objective of strategic planning.

8 0
3 years ago
If a Starbucks vanilla latte costs $5 in Seattle and 4 euros in Paris, what must the exchange rate be if purchasing power parity
anzhelika [568]
D <span>20 euros per dollar</span>
7 0
3 years ago
Cyclical unemployment is BEST described as unemployment arising from
Ira Lisetskai [31]

Answer:

Contraction cycle or Recession

Explanation:

The cyclical unemployment is due to the cycles of economy ( expantion:Grow and contraction: recession) Under these circumstances unemployment is considered normal as the economy cannot sustain itself always in an expansion cycle.

3 0
3 years ago
0.5 pts Congress has not allowed widespread work stoppages to occur in the railroad industry but has resolved disputes by enacti
iogann1982 [59]

Answer:

True or False

True - explanation below

Explanation:

The congress has been able to prevent the widespread stoppages because they have the power to enforce the emergency board recommendations. These recommendations were viewed by the parties to be very valuable and could definitely serve as the grounds for the resolutions of disputes that may arise.  

A one-day rail strike that happened in 1991 was resolved by the congress by enacting PUB L.102 -29 which was said to have the effects of imposing many of the recommendations of Presidential Emergency Board ( PEB) 219

4 0
3 years ago
Other questions:
  • Soar Incorporated is considering eliminating its mountain bike division, which reported an operating loss for the recent year of
    10·1 answer
  • After the physical inventory is completed, unit costs are determined by dividing the quantities on the summary sheets by the tot
    6·1 answer
  • What is the role of peer assessment in the learning process?​
    10·2 answers
  • Summit Systems has an equity cost of capital of 11.0 %​, will pay a dividend of ​$1.50 in one​ year, and its dividends had been
    12·1 answer
  • Explain why purely competitive markets tend to benefit consumers over producers.
    15·1 answer
  • Wildhorse Company took a physical inventory on December 31 and determined that goods costing $676,000 were on hand. Not included
    10·1 answer
  • Heating degree-day and cooling degree-day futures contracts make payments based on whether the temperature is abnormally hot or
    6·1 answer
  • Which elements do you think need to go in a fire prevention plan?
    14·2 answers
  • What is one consequence of stagflation?
    8·1 answer
  • NEED HELP ASAP, WILL GIVE BRAINLIEST
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!