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>
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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.
