Most homeowners would agree that the most important financial benefit from owning their own home is the tax break. This is known as a tax shelter and allows for homeowners to avoid or lower their taxes. Owning a home reduces your taxable income and in large part due to interest rates and interest paid on an owned home.
Answer:
$96,154.20
Explanation:
We are to find the future value of the annuity
The formula for calculating future value = A (B / r)
B = [(1 + r)^n] - 1
A = Amount
R = interest rate
N = number of years
[(1.08)^9 - 1 ] / 0.08 = 12.487558
12.487558 x $7,700 = $96,154.20
Being smart is something that's grown and cultivated, often by being curious enough to seek out new information and by recognising what you don't already know. Being smart is the ability to put ideas together, and create solutions to problems. Being smart is the ability to focus, concentrate, and communicate.
Answer:
FASB ASC 835-20-15-8
Explanation:
This section explicitly states that in order for interests to qualify for interest capitalization, the assets purchased through the loan must be getting ready for its intended use. E.g. if you want to capitalize the interests on the land, you must carry out activities necessary to prepare it for its intended use. Or if you purchase a machinery, you must be installing it in order to get it ready to produce.
