The following table shows the assets and liabilities of the Chang family in 2007 and 2008.

\begin{tabular}{|l|l|}
\hline
2007 & 2008 \\
\hline
home valued at [tex][tex]$\$[/tex]315,000[tex]$[/tex] & home valued at [tex]$[/tex]\[tex]$325,000$[/tex][/tex] \\
\hline
mortgage of [tex][tex]$\$[/tex]265,000[tex]$[/tex] & mortgage of [tex]$[/tex]\[tex]$240,000$[/tex][/tex] \\
\hline
car valued at [tex][tex]$\$[/tex]10,000[tex]$[/tex] & car valued at [tex]$[/tex]\[tex]$6,000$[/tex][/tex] \\
\hline
savings of [tex][tex]$\$[/tex]2,000[tex]$[/tex] & car loan of [tex]$[/tex]\[tex]$1,000$[/tex][/tex] \\
\hline
\end{tabular}

Based on the table, which of the following is true?

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.

Please select the best answer from the choices provided.

To determine which statement is true based on the given information, we need to compare the family’s assets and liabilities from 2007 to 2008.

### Given Data:
#### 2007:
- Home: \[tex]$315,000 - Mortgage: \$[/tex]265,000
- Car: \[tex]$10,000 - Savings: \$[/tex]2,000

#### 2008:
- Home: \[tex]$325,000 - Mortgage: \$[/tex]240,000
- Car: \[tex]$6,000 - Car Loan: \$[/tex]1,000

### Step-by-step Solution:

1. Calculate Total Assets for 2007:
- Home: \[tex]$315,000 - Car: \$[/tex]10,000
- Savings: \[tex]$2,000 - Total Assets 2007: \[ 315{,}000 + 10{,}000 + 2{,}000 = 327{,}000 \] 2. Calculate Total Liabilities for 2007: - Mortgage: \$[/tex]265,000
- Total Liabilities 2007:
[tex]\[ 265{,}000 \][/tex]

3. Calculate Total Assets for 2008:
- Home: \[tex]$325,000 - Car: \$[/tex]6,000
- Total Assets 2008:
[tex]\[ 325{,}000 + 6{,}000 = 331{,}000 \][/tex]

4. Calculate Total Liabilities for 2008:
- Mortgage: \[tex]$240,000 - Car Loan: \$[/tex]1,000
- Total Liabilities 2008:
[tex]\[ 240{,}000 + 1{,}000 = 241{,}000 \][/tex]

### Comparison:

- Assets:
- 2007: \[tex]$327,000 - 2008: \$[/tex]331,000
- Change:
[tex]\[ 331{,}000 - 327{,}000 = 4{,}000 \quad (Increase) \][/tex]

- Liabilities:
- 2007: \[tex]$265,000 - 2008: \$[/tex]241,000
- Change:
[tex]\[ 265{,}000 - 241{,}000 = 24{,}000 \quad (Decrease) \][/tex]

### Conclusion:
From 2007 to 2008, the assets increased and the liabilities decreased. Therefore, the correct answer is:

d. From 2007 to 2008, assets increased and liabilities decreased.