Your annual mortgage payments are $10,000 of which $8,000 represents interest payments, your marginal tax rate is about 30%, and you itemize deductions. Your mortgage payments after taxes are how much?

A)

$7,600
B)

$2,400
C)

$5,600
D)

$13,000


A

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Dave Scott bought a used car in early 2007 for $12,000. He borrowed $11,000, which he is repaying over four years

During 2007, he made payments of $3,600, of which $800 was interest and $2,800 was repayment of principal. Dave believes the car depreciated about $4,000 in 2007. Given the above data we can say that by the end of 2005 the car had A) increased Dave's net worth by $8,200. B) decreased Dave's net worth by $4,800. C) increased Dave's assets by $12,000, increased his liabilities by $11,000, and increased his net worth by $1,000. D) decreased Dave's net worth by $200.

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Indicate whether the statement is true or false.

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Which of the following can be used by a creditor in deciding whether or not to grant credit?

A) Credit history B) Race C) Gender D) Both A and C are correct.

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Outsourcing has spread widely because companies see value in turning IS functions over to specialist companies

Indicate whether the statement is true or false

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