Simple interest on a $1,250,000, 9%, 15-month note is
A. $ 90,000.
B. $112,500.
C. $140,625.
D. $168,750.
Answer: C
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Solve the problem. Refer to the table if necessary.
Carl is single and has a taxable income of $38,367. Calculate the amount of tax owed.
A. $5331 B. $5304 C. $9592 D. $4203
Solve the problem. Refer to the table if necessary.
Abbey earned $67,862 in wages. Kathryn earned $67,862, all in dividends and long-term capital gains. Calculate the total tax owed by each, including both FICA and income taxes. Assume they are both single and take the standard deduction. Note that long-term capital gains and dividends are taxed at 0% for income in the 10% and 15% tax brackets and at 15% for income in all higher tax brackets except the highest 39.6% bracket. If necessary, round values to the nearest dollar.
A. Abbey: $15,569 Kathryn: $4878 B. Abbey: $14,531 Kathryn: $8153 C. Abbey: $10,104 Kathryn: $2927 D. Abbey: $15,296 Kathryn: $2927
Provide an appropriate response.Which of the following is not a way the government borrows money from the public?
A. Selling bonds to investors B. Raising taxes C. Selling Treasury notes D. All of the above
Samos Excavating is considering purchasing some new equipment for the company. Due to the expense involved, the equipment company is giving Samos the option of choosing between four different payments plans.
? 1) $500,000 due immediately in cash 2) $150,000 down payment due immediately; $60,000 per year for 10 years, beginning at the end of the current year 3) $150,000 down payment due immediately; $30,000 per year for 4 years beginning at the end of the current year; $80,000 per year for 8 years beginning at the end of the fourth year after the initial purchase 4) $65,000 due immediately and at the beginning of each of the next 11 years ? Required: Samos has to decide between the four payment plans, whichever one provides the smallest present value will be chosen. The effective interest rate during the future periods is 10%. Which option should Samos choose? What will be an ideal response?