Answer:
The answer is No.
Step-by-step explanation:
Zeituni's standard deduction on her federal income tax return is $5700.
she paid $4670 in state taxes and $1180 in mortgage interest last year, totaling to :
So, no, she should not use her standard deduction because it is less than the deduction she will get from itemizing.
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
The amount of money gained after an investment is compounded is given by:
Where P is principal, A is the final amount, r is the rate, n is the number of times compounded per period and t is the time
Given that P = $1689, t = 4, r = 3% = 0.03, n = 1, hence:
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
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