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murzikaleks [220]
2 years ago
10

Janet and James purchased their personal residence 15 years ago for $300,000. For the current year, they have an $80,000 first m

ortgage on their home, on which they paid $5,750 in interest. They also have a home equity loan to pay for the children's college tuition secured by their home with a balance throughout the year of $150,000. They paid interest on the home equity loan of $9,000 for the year.
Required:
Calculate the amount of their deduction for interest paid on qualified residence acquisition debt and qualified home equity debt for the current year.
Business
1 answer:
Semenov [28]2 years ago
3 0

Answer: $5750 ; $6000

Explanation:

The amount of their deduction for interest paid on qualified residence acquisition debt will be the interest paid on the first mortgage of their home which is: = $5750

The amount of the deduction paid on qualified home equity debt will be calculated as:

= (100000/150000) × 9000

= $6000

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Alicia deposited $400 in the bank. The bank paid her simple interest at the rate of 5 percent per year. How much money will she
algol13

Using simple interest, she will have $410 at the end of six months.

Principle = $400

Rate = 5%

Time equals 6 months, or 0.5 years.

Simple interest is equal to PRT/100.

S.I. = 400*5*(1/2)/100

S.I. = 10

Consequently, $400 plus $10 equals $410.

<h3>What is simple interest?</h3>

To calculate the amount of interest that will be charged on a loan, use the quick and easy formula known as simple interest. For the purpose of calculating simple interest, the daily interest rate, the principal, and the number of days between payments are multiplied.

A loan's principal or the first deposit into a savings account serves as the basis for simple interest. Because simple interest doesn't compound, a creditor would only pay interest on the principal sum, and a borrower will never have to pay interest on the interest that has already accrued.

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6 0
10 months ago
If​ eHermes' supplier of​ self-driving vehicle chassis is able to reduce costs by having better data on both finished goods inve
Allushta [10]

Answer:

Linkages

Explanation:

Running a business is a difficult and competitive job to do and it requires tremendous internal and external effort to make it successful. Using linkages across the various processes of business helps to complete the job in time and sometimes it is also cost-efficient. Ehermes' is using linkages to improve the business process to effectively produce goods and services.

5 0
3 years ago
At a price for which the quantity supplied exceeds the quantity demanded, a __________ is experienced, which pushes the price __
I am Lyosha [343]

Answer:

1-Shortage

2- fall

Explanation:

Shortage (there will not be enough goods available to meet the demand for them)

Fall (when supply exceeds demand, prices fall until equilibrium is reached, and demand equals supply)

6 0
3 years ago
According to peterson, what was the catalyst for the formation of the first truly global trade network?
Snowcat [4.5K]

<u>According to peterson,</u><u> not the railroad </u><u>was the catalyst for the formation of the first truly </u><u>global trade network.</u>

Who started the galleon trade?

  • After Augustinian friar and navigator Andrés de Urdaneta evolved the tornaviaje, or go back direction, from the Philippines to Mexico, the Spanish mounted the Manila galleon alternate direction in 1565.
  • In that year, Urdaneta and Alonso de Arellano finished the primary a success spherical trip.

What element made the Philippines a middle for shipbuilding?

Indios have been a abundant supply of reasonably-priced exertions that might be abused. -Indians have been professional shipbuilders. -enough deliver of top-notch lumber.

Who constructed the primary deliver withinside the world?

  • Among the earliest deliver builders have been the Egyptians. Egyptian vases and graves include the earliest depictions of boats ever discovered.
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7 0
2 years ago
How many years would it take an amount of money to double if it is invested at a rate of 8% compounded continuously
trapecia [35]

Answer:nine years

Explanation:The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.

5 0
2 years ago
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