creditor and debtor in these transactions

nt Shawn Bixby borrowed $25,000 on a 120-day, 15% note. After 60 days, Shawn paid $2,800 on the note. On day 96, Shawn paid an additional $4,800. Use ordinary interest. a. Determine the total interest use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Total interest b. Determine the ending balance due use the U.S. Rule. Note: Do not round intermediate calculations. Round your answer to the nearest cent. Ending balance due

Question 1 Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. a)       What is the implied per annual simple interest rate for her purchasing (expressed as a percentage and rounded to three decimal places)?   Select one: a. 0.076 b. 0.032 c. 0.031 d. 0.088   Question 2   Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest rate. b)      What is her selling price (rounded to four decimal places)?   Select one: a. 98740.2903 b. 98634.0935 c. 98846.7161 d. 99317.7280   Question 3   Today is 22th March 2020. Jane just purchased a 180-day $100,000 bank bill at a simple interest rate. The purchase price is $98,500. She sold this bank bill on 24th May 2020 at 3.98% p.a. simple interest…

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SSPN-i monthly deposit for the twins at RM100 each Sabri paid premium of RM300 per month for life insurance (Takaful Keluarga) Sabri also paid medical insurance of RM300 per month to cover his wife and children Sabri contributed to SOCSO a monthly contribution of RM19.75 Sabri paid for accommodation at LEGOLAND Hotel on a short vacation in Johor in June 2020. He paid RM899 per night for a room package of 4 persons. The family stayed for two (2) nights. Total zakat paid by Sabri and Rin for the year 2020 was RM2,000 for both zakat on salaries and zakat fitrah Given the tax relief for resident individuals and marginal tax rate in the Appendix, calculate the income tax payable for the year of assessment 2020 by Sabri and Rin if they chose joint assessment Sabri and Rin live in the suburbs of Kuala Lumpur with their four (4) children. Sabri works as an Information Technology (IT) Manager in a private company and Rin works as an administrative officer with the Ministry of Tourism Kuala…

Exercise 4-24 (Lo. 4) Elizabeth made the following interest-free loans during the year. Assume that tax avoidance is not a principal purpose of any of the loans. Assume that the relevant Federal rate is 5% and that the loans were outstanding for the last six months of the year. Borrower's Net Borrower Amount Investment Income Purpose of Loan Richard $5,000 $800 Gift Woody $8,000 $600 Purchase stock Irene $105,000 $0 Purchase residence What are the effects of the imputed interest rules on these transactions? Compute Elizabeth's gross income from each loan. If an amount is zero, enter "0". V subject to the imputed interest rules because the $10,000 gift loan exception does a. Richard is not gross income from the loan is $ apply. Elizabeth's b. The $10,000 exception does not income producing v apply to the loan to Woody because the proceeds were used to purchase v assets. Although the $100,000 exception applies v to this loan, the amount of imputed interest is |. Elizabeth's gross income…