Question: Hi I need help with questions i got wrong from a study guide. Thank you 1.Jeffrey earned a gross income of $59,860 last year. He

Hi I need help with questions i got wrong from a study guide. Thank you

1.Jeffrey earned a gross income of $59,860 last year. He made $1,933.07 in student loan interest deductions, donated $3,702 to his favorite charities and paid $2,959.20 in home mortgage interest. Jeffrey claims a standard deduction of $11,400 for himself and his non-working spouse. If their exemption is $7,300, what is their taxable income?

A.$32,565.73

B.$39,226.93

C.$43,965.73

D.$36,267.73

2.Bart made some home improvements for $6,091 using a six-month deferred payment plan with an interest rate of 23.79%. What is the balance after the deferment period if no payments are made?

A.$6,091.00

B.$6,852.40

C.$7,540.05

D.$6,776.90

3.Felicia installed a new pool for $17,190 using a 12-month deferred payment plan with an interest rate of 18.67%. What is the balance after the deferment period if payments of $589 are made each month?

A.$10,122.00

B.$20,688.76

C.$13,620.76

D.$17,190.00

4.Barbara purchased a home entertainment center for $2,665 using an 18-month deferred payment plan with an interest rate of 24.36%. She did not make any payments during the deferment period. What will Barbara's monthly payment be if she must pay off the home entertainment center within three years after the deferment period?

A.$74.03

B.$146.09

C.$106.29

D.$150.85

5.Julio purchased some power tools totaling $2,174 using a six-month deferred payment plan with an interest rate of 28.19%. He did not make any payments during the deferment period. What will the total cost of the power tools be if he must pay off the power tools within two years after the deferment period?

A.$2,499.00

B.$3,297.84

C.$2,174.00

D.$4,122.30

6.Garrett is graduating from college in twelve months, but he will need a loan in the amount of $6,785 for his last two semesters. He may either receive an unsubsidized Stafford Loan with an interest rate of 6.8%, compounded monthly, or his parents may get a PLUS Loan with an interest rate of 7.8%, compounded monthly. The Stafford Loan has a grace period of six months from the time of graduation. Which loan will have a higher balance at the time of repayment and by how much?

A.The PLUS Loan has a higher balance by $72.54.

B.The PLUS Loan has a higher balance by $112.83.

C.The Stafford Loan has a higher balance by $177.86.

D.The Stafford Loan has a higher balance by $250.40

7.Eustis purchased a living room set for $2,784 using a 12-month deferred payment plan. The interest rate after the introductory period is 24.90%. A down payment of $225 is required as well as a minimum monthly payment of $107. What is the balance after the introductory period if only the minimum payment is made until then?

A.$1,990.18

B.$2,053.07

C.$3,167.18

D.$3,274.18

8.Camille purchased a motorcycle for $5,723. She made a down payment of $1,775. She applied for a four-year installment loan with an interest rate of 10.2%. What is the total cost of the motorcycle after four years?

A.$6,599.48

B.$6,993.60

C.$4,824.48

D.$8,768.60

9.Nash bought a stove from a rental center for $983. He makes six monthly payments of $173.04 with his credit card. The rental center charges $3.15 for every purchase made with a credit card. He also had to pay late fees in the amount of $29 three different times. What is the total cost of the stove?

$1,038.24

$1,144.14

$1,057.14

$1,125.24

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