1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anna71 [15]
3 years ago
9

Jessica purchased a home on January 1, 2018 for $580,000 by making a down payment of $230,000 and financing the remaining $350,0

00 with a 30-year loan, secured by the residence, at 6 percent. During 2018 and 2019, Jessica made interest-only payments on this loan of $21,000 (each year). On July 1, 2018, when her home was worth $580,000 Jessica borrowed an additional $145,000 secured by the home at an interest rate of 8 percent. During 2018, she made interest-only payments on the second loan in the amount of $5,800. During 2019, she made interest only on the second loan in the amount of $11,600. What is the maximum amount of the $32,600 interest expense Jessica paid during 2019 may she deduct as an itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard
Business
1 answer:
Ann [662]3 years ago
5 0

Answer:

$32,600

Explanation:

Calculation to determine her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard

Using this formula

Itemized deduction =(Financing amount * 6 percent)+(Additional amount borrowed*interest rate of 8 percent)

Let plug in the formula

Itemized deduction=( $350,000 * 6 percent)+($145,000 *8 percent)

Itemized deduction=($21,000+$11,600)

Itemized deduction=$32,600

Therefore her itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard wi be $32,600

You might be interested in
Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Ins
Ahat [919]
Katrine doesn't understand all of the various aspects of automobile insurance and relies on her local independent State Farm Insurance agent to provide her with information. This agent acts as a(n) intermediary for State Farm.
5 0
2 years ago
Read the following sentence, and determine which technique is most applicable to improve its readability.
Sunny_sXe [5.5K]

Answer:

The correct option is A. Using numbered or bulleted lists.

Explanation:

EXPLANATION

A. Using numbered or bulleted lists

<em>Use numbered lists when you're explaining instructions that need to be performed in sequence. In situations where numbers are not essential use bullets, especially in business related documents</em>

<em>Bulleted lists are used to make items stand out from the text without implying order of importance. They may include punctuation marks like commas and semicolons</em>

This is the correct answer, use of numbered list. We were told in the question to follow a particular order to fill out an expense report. You begin by writing your name and end by obtaining the supervisor’s signature

B. Using graphic techniques

<em>Graphics are visual elements that can be used to point readers and viewers to a particular information. Graphic techniques are visually engaging in order to attract and inform a large audience. Diagrams and graphs can help learners comprehend abstract concepts using visual language to depict meaning. For instance, in diagrams the connecting lines between elements help learners understand relationships. Bar graphs make it easy to compare data; line graphs help learners understand trends</em>

This option is wrong. The expense report is not a new concept

C. Developing parallelism for balance

Parallelism in literature is the repetition of a word or phrase within a sentence or group of sentences. It is used to help organize ideas, but also to make the ideas memorable.  

This option is also wrong

6 0
3 years ago
Blake Mycoskie started a shoe business known as TOMS. As a social entrepreneur, Mr. Mycoskie takes the concept of ______________
Vinil7 [7]

As a social entrepreneur, Mr. Mycoskie takes the concept of corporate social initiative to a new level.

Corporate social initiative is when a corporate company tries to bring social awarenss through their volunteer efforts, bussinesses that benefit soceity and much more. TOMS donates a pair of shoes to a third world country each time a pair is bought. This is a way to help their economies and those living in them by giving back.

6 0
3 years ago
5.01 Four Types of Utility Marketing Worksheet All four types of utility must be present for consumers to be satisfied; none of
dem82 [27]

Answer:

20.

37. 42 is the answer

Explanation:

8 0
2 years ago
A ________ is a collection of tasks, steps, or activities that are performed, usually in a specific order, and result in an end
harina [27]

Answer:

b

Explanation:

A process is a collection of tasks,steps,or activities that are performed

3 0
2 years ago
Other questions:
  • What are the Holland codes?
    6·2 answers
  • A company can test market a product in order to evaluate decisions about e.g, pricing and advertising. In order get reliable inf
    7·2 answers
  • How much can i spend on a house if i make 100k a year?
    15·1 answer
  • The fungal division needs 10,000 plates of potato dextrose agar annually. Currently, the fungal division purchases them from Ari
    7·1 answer
  • About how long after WWII did employers first start to push back against union encroachment?
    8·1 answer
  • Explain the criticisms of labor unions today. 25 POINTSS​
    7·2 answers
  • The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the m
    5·1 answer
  • The next step after developing a market-product grid and estimating market sizes in the segmentation process is to ________ appr
    9·1 answer
  • A ________ rate means the value of the currency is fixed relative to a reference currency and then the exchange rate between tha
    15·1 answer
  • Which of the following is a limitation of the planning process at Wirecard? Check all that apply.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!