Answer: False
Explanation:
The process of Amortization spreads out a loan into a series of fixed payments over time.
The borrower essentially pays the both the loan's interest and it's principal in varying amounts per month but the total payment is the same.
During the beginning of the loan repayment schedule, interest costs are known to be highest and only a small portion of the balance/principal is paid.
The statement is therefore FALSE.
If you need any clarification or have any questions please feel free to comment or react. Thank you.
The answer is Opportunity.<span />
compianies or whoever hires the construction workers.
Answer:
Joan will pay income tax on the $10,000 she withdrew in 2018.
Explanation:
When withdrawing from traditional retirement account, the following rules apply:
1. Withdrawals before attaining the age of 59.5 years attract a penalty of 10%, along with income tax on the amount withdrawn.
2. Withdrawals after the age of 59.5 years are treated as income, so income tax is paid on it. In this case tax on the $10,000 withdrawn.
3. At age 70.5 and above you must take the Required Minimum Distribution (RMD) from the pension account.
Note: Roth IRA does not attract tax payments for ages 59.5 years and above, unlike traditional IRA that attracts income tax.
RMD payments does not apply for Roth IRA.
