Debbie McAdams paid 7% interest on a $5,500 loan balance. Jan Burke paid $5,460 interest on a $52,500 loan. Based on 1 year:
Solved
Show answers
More tips
- H Horoscopes, Magic, Divination Is there a 13th Zodiac Sign?...
- H Health and Medicine Want to Lose Weight? Gain Muscle without Damaging Your Health!...
- F Family and Home Parquet or laminate, which is better?...
- L Leisure and Entertainment How to Properly Wind Fishing Line onto a Reel?...
- L Leisure and Entertainment How to Make a Paper Boat in Simple Steps...
- T Travel and tourism Maldives Adventures: What is the Best Season to Visit the Luxurious Beaches?...
- H Health and Medicine Kinesiology: What is it and How Does it Work?...
- O Other How to Choose the Best Answer to Your Question on The Grand Question ?...
- L Leisure and Entertainment History of International Women s Day: When Did the Celebration of March 8th Begin?...
- S Style and Beauty Intimate Haircut: The Reasons, Popularity, and Risks...
Answers on questions: Business
- G Geography Explain the difference between vegetative planting and seed agriculture, and how this manifested in the diffusion of agriculture...
- E English What motivates the stranger to ask e lisa about her chrysanthemums...
- C Chemistry PA + 502 → P4010 If 400g of P4010 is needed for an experiment, how much P4 would you have to burn?...
- M Mathematics A total of $44,000 is to be invested, some in bonds and some in certificates of deposit (CDs). If the amount invested in bonds is to exceed that in CDs by $2,000 how much will...
Ответ:
the requirements are missing, so I looked for similar questions.
a) What is the amount of interest paid by Debbie?
$5,500 x 7% = $385
b) What was the interest rate paid by Jan?
$5,460 / $52,500 = 10.4%
c) Since both are in the 28% tax bracket, how much can they deduct for interest expense?
assuming that both Debbie and Jan itemize their deductions and were allowed to deduct this specific interest expense (individual taxpayers can deduct mortgage and business related interest expense only):
Debbie can deduct $385 x 28% = $107.80
Jan can deduct $5,460 x 28% = $1,528.80
Ответ:
The answer is breastmilk
Hope this helps
Plz mark me as brainist Thanks