Question: This month you made a mortgage payment of 700
This month you made a mortgage payment of $ 700, of which $ 600 was an interest payment and $ 100 a payment of the loan principal. You are in the 25% marginal tax bracket. What is the tax savings as a result of this payment?
Answer to relevant QuestionsTeresa rents her apartment for $ 650 per month, utilities not included. When she moved in, she paid a $ 700 security deposit using money from her savings account that was paying 3% interest. Her renter’s insurance costs ...The Sampsons expect that they will not move for at least three years. Advise the Sampsons on whether they should refinance their mortgage by comparing the savings of refinancing with the costs. What is the purpose of insurance? What is meant by the term liability? How can individuals benefit from insurance? List and briefly describe some of the factors that affect homeowner’s insurance premiums. What is the role of insurance underwriters? What is the role of insurance agents? Define the two different types of insurance agents.
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