Question 10 • CARE_24_25_TX-Mathematical Models with Applications A
The following table shows the assets and liabilities of the Chang family in 2007 and 2008.20072008home valued at $315,000home valued at $325,000mortgage of $265,000mortgage of $240,000car valued at $10,000car valued at $6,000car loan of $5,000car loan of $1,000savings of $2,000credit card debt of $1,500Based on the table, which of the following is true?
Answer
A
From 2007 to 2008, both assets and liabilities decreased.
B
From 2007 to 2008, both assets and liabilities increased.
C
From 2007 to 2008, assets decreased and liabilities increased.
D
From 2007 to 2008, assets increased and liabilities decreased.