Question: 1. There are four (4) types of loans. Fixed, Variable, Balloon and Interest Only. Please explain each and include if any of them have a

1. There are four (4) types of loans. Fixed, Variable, Balloon and Interest Only. Please explain each and include if any of them have a tax benefit.
2. The Glass Stegall Act of 1933. Please explain why it was so important and detail the 4 critical aspects of the Act.
3. Explain the difference between Ordinary Income Tax and Capital Gains Tax. Please give an example with your BRIEF description.
4. Please provide your understanding of an Income Statement and Balance Sheet.

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