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Using the following information about the family's assets and liabilities, calculate the total liabilities: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility

Using the following information about the family's assets and liabilities, calculate the total liabilities: Checking account: $3,000 Savings account: $13,000 Credit card balance: $5,500 Utility bill: $500 Home: $320,000 Mortgage (30 years): $210,000 Car: $25,000 Car loan (60 months): $18,000 Student loan (7 years): $25,000 Household items: $15,000 Retirement account: $64,000 Other assets: $39,000 A. $258,500 B. $274,000 C. $253,000 D. $259,000

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