![Challenge Problem 10-36 (Static) [LU 10-2 (1)] Debbie McAdams paid 8% interest on a $12,500 loan balance. Jan Burke paid $5,0](http://img.homeworklib.com/questions/ba00f680-7561-11ea-a932-dfadf5043b12.png?x-oss-process=image/resize,w_560)
Homework Answers
Answer
- Requirement [c]
>Income tax will be SAVED on the amount of interest expense paid.
>save in taxes for:
>Debbie = $ 1000 interest x 28% tax rate = $ 280
>Jan = $ 5000 interest x 28% = $ 1400
Add Answer to:
answers in gray are correct. answers in white are false. i
need help with c. 2500...
Debbie McAdams paid 8% interest on a $5,000 loan balance. Jan Burke paid $4,750 interest on...
Debbie McAdams paid 8% interest on a $5,000 loan balance. Jan Burke paid $4,750 interest on a $50,000 loan. Based on 1 year: a. What was the amount of interest paid by Debbie? Interest paid by Debbie $ b. What was the interest rate paid by Jan? (Round your answer to the nearest tenth percent.) Interest rate paid by Jan % c. Debbie and Jan are both in the 28% tax bracket. Since the interest is tax deductible, how much...
i dont think those answers are correct and i am trying to find the total interest...
i dont think those answers are correct and i am trying to find
the total interest
Question 5 (of 35) Save & Exit Submit Time remaining: 2.51:03 8.00 points Problem 5-55 Amortization with Equal Payments (LO 3] Prepare an amortization schedule for a three year loan of $81,00). The interest rate is 8 percent per year, and the loan cals for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank....
in part A just need the correct answers in red boxes were I made mistakes. Thanks!...
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
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** Please read the bold statement after the question, I have the
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#1 Using a spreadsheet application, create an amortization
schedule for a 30 year, fixed rate (4.58%) $200k loan. Answer the
following: what is the monthly payment? how much total interest
will you pay? Print out enough of your spreadsheet to defend your
work and answers.
Assume that you took the loan in #1 and paid your monthly...
ANSWERS A AND B ARE CORRECT. I need answers to C and D. This is my...
ANSWERS A AND B ARE CORRECT. I need answers to C and D. This is
my second time posting this question and getting wrong answers on
here. Please don't solve unless answer is correct. Thanks.
If a nominal interest rate of 8% is compounded continuously, determine the unknown quantity in each of the following situations: a. What uniform EOY amount for 9 years is equivalent to $7,000 at EOY 9? b. What is the present equivalent value of $900 per...
I need help with the incorrect answers. I also need to know the amount for incorrect...
I need help with the incorrect
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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 100,000 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour $3.ee $650,0e0 Required 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was...
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I just need answers for 1, 2, 4, 6, 10, 9,
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Choose the correct answers just , WhithOut explain .. just the choose.. please help me to...
Choose the correct answers just , WhithOut explain .. just the choose.. please help me to answer all questions: 1- The mount that will be repaid at the end of the loan is called the bond's (…………). * A- bond. B- bond feature. C- Face value or par value. 2- The number of years until the face value is paid is called (………..) to maturity. * A- Bond's feature B- Bond's time. C- Bond's value 3- This interest rate required...
Please I need help with this!! Problem 10-12A On January 1, 2019, Sunland Company issued $3,980,000...
Please I need help with this!!
Problem 10-12A On January 1, 2019, Sunland Company issued $3,980,000 face value, 7%, 10-year bonds at $3,712,939. This price resulted in an effective-interest rate of 8% on the bonds. Sunland uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do...
i dont think those answers are correct and i am trying to find
the total interest
Question 5 (of 35) Save & Exit Submit Time remaining: 2.51:03 8.00 points Problem 5-55 Amortization with Equal Payments (LO 3] Prepare an amortization schedule for a three year loan of $81,00). The interest rate is 8 percent per year, and the loan cals for equal annual payments. How much total interest is paid over the life of the loan? (Leave no cells blank....
in part A just need the correct answers in red boxes were I
made mistakes. Thanks!
Wildhorse Corporation issued $3.54 million of 7- year, 6% bonds dated January 1, 2021, for $3,166,065. The market interest rate when the bonds were issued was 8%. Interest is payable semi-annually on January 1 and July 1. Wildhorse has a December 31 year end. Your answer is partially correct. Prepare an amortization schedule for the first three interest payments. (Round answers to 0 decimal...
** Please read the bold statement after the question, I have the
answers, but I need to make sure they are correct. Thanks**
#1 Using a spreadsheet application, create an amortization
schedule for a 30 year, fixed rate (4.58%) $200k loan. Answer the
following: what is the monthly payment? how much total interest
will you pay? Print out enough of your spreadsheet to defend your
work and answers.
Assume that you took the loan in #1 and paid your monthly...
ANSWERS A AND B ARE CORRECT. I need answers to C and D. This is
my second time posting this question and getting wrong answers on
here. Please don't solve unless answer is correct. Thanks.
If a nominal interest rate of 8% is compounded continuously, determine the unknown quantity in each of the following situations: a. What uniform EOY amount for 9 years is equivalent to $7,000 at EOY 9? b. What is the present equivalent value of $900 per...
I need help with the incorrect
answers. I also need to know the amount for incorrect depreciation
part.
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 100,000 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour $3.ee $650,0e0 Required 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was...
I just need answers for 1, 2, 4, 6, 10, 9,
1. What factors other than disposable income affect consumption and saving? What happens to consumption and saving if taxes increase? 2. Describe the major non-interest determinants of investment spending. What is the relationship between the real interest rate and investment spending? 3. Suppose a family's disposable income is $8,000 and it saves $2000 If their income rises to $10,000 and they plan to save $2800, what are their MPC...
Please I need help with this!!
Problem 10-12A On January 1, 2019, Sunland Company issued $3,980,000 face value, 7%, 10-year bonds at $3,712,939. This price resulted in an effective-interest rate of 8% on the bonds. Sunland uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do...
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