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jeyben [28]
3 years ago
7

Jake takes out a payday loan of $300. In two weeks, he doesn't have the money to repay it in full. What is one way that Jake can

escape the trapping cycle of repayment?
Business
1 answer:
Law Incorporation [45]3 years ago
6 0

Answer:

Explanation:

A Dept Trap or trapping cycle of repayment is a situation in which a borrower is met with high interest rates on the loan that they have taken, and are stuck in a cycle of borrowing more in order to pay back the initial loan. The only way to actually get out of one is to pay back the owed amount in full and as fast as possible. Therefore the best way would be to get an extra job or side hustle to cover the interest and some of the cost, and pay off the loan as fast as possible.

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Marquez, the hotel manager, knows that the number of guests at his hotel has significantly decreased. Therefore, corporate has m
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At the start of the current year, Blue Corporation (a calendar year taxpayer) has accumulated E & P of $100,000. Blue's curr
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Answer:

Pam and Jon's dividend income = $80,000 each

[ ($100000 <em>Accumulated E&P </em>+ <em>$60000 current E&P </em>) / 2] = $80,000

Statement of distribution for shareholders for tax purpose

                                            Pam           Jon

Total distribution            $100,000    $100,000

Less: Dividend income   <u>$80,000     $80,000</u>

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Less: Stock basis            <u>$11,000       $26,000</u>

Capital gain                     <u>$9,000           $0 </u>

<u> </u>

Therefore, Pam has a taxable gain of $9000 which reduces the stock basis to $0, whereas Jon has not any taxable gain but the stock basis has reduced to $6000 [$26000 - $20000]

3 0
3 years ago
Bob is a stay-at-home father of two toddlers during the day while his wife is at work. Now, Bob would like to work at least part
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Answer:

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Also she should hear from others who import and export goods from Africa and US and vice-versa.

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3 years ago
Read 2 more answers
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