Nicole is a student at USB Law School; she receives a $52,000 scholarship for 2018. Of the $52,000, $40,000 is used for tuition,
$5,000 is used for books, and $7,000 is used for room and board. How much of the scholarship is excluded from taxable income for Nicole in 2018? a. $52,000
b. $47,000
c. $7,000
d. $5,000
e. $45,000
Scholarships may or may not be taxable. Scholarships are generally tax-free when they are used to pay for tuition, books and other necessary equipment.
Here, Nicole is getting a scholarship of $52,000 for the year 2018.
She is spending $40,000 on tuition, $5,000 for books and $7,000 for room and board.
The total expenses are
=$(40,000+5,000)
=$45,000
So, out of $52,000 non taxable amount is $45,000.
Nicole will be taxed for $7,000 and will be exempted from tax for $45,000.
Economic growth in a country is measured with something called GDP (Gross Domestic Product) . GDP is calculated by counting all goods and services that produced by the nations in one year. Assuming that the market is in an equilibrium, the amount of GDP usually really close to people's purchasing power (ability to exchange money for goods and services.)
I'd rather use my Saving but Getting a loan from family or friend is Kinda Nice if they have the money for it. but Borrowing from a Bank is Smart But Do You Even Have enough money in you're bank for it?
