How much investment interest can Tobias deduct?
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Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $37,600 during the year. Income generated through the brokerage account was as follows:
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If required, round any division to two decimal places and use in subsequent computations. Round your final answer to the nearest dollar.
How much investment interest can Tobias deduct?
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- Tobias has a brokerage account and buys on the margin, which resulted in an interest expense of $29,200 during the year. Income generated through the brokerage account was as follows: Municipal interest $58,400 Taxable dividends and interest 292,000 If required, round any division to two decimal places and use in subsequent computation. Round your final answer to the nearest dollar. How much investment interest can Tobias deduct?Brett purchased a machine for $22,500 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 4.72% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? Round to the nearest cent b. What was the interest portion of payment number 4?2. PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASEnrique Perez bought a house whose value is $1'900,000 cash. He paid $400,000 cash and the rest in 8 equal quarterly payments. If he is charged 10½ % nominal interest on the transaction, a) find the value of each of the quarterly paymentsb) find the total amount paid.c) Find the total amount of interest paid.d) Find the effective rate. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.
- Kyle received a loan of $8,000 at 4.32% compounded semi-annually from a credit union to use as working capital for his business. He had to make semi-annual payments for a period of 4 years to settle the loan. a. Calculate the size of his payments. Round to the nearest cent b. What was the total interest paid during the period? Round to the nearest cent c. What was the interest portion of payment number 3?Tim Houston purchased a wall unit for $2,400. He made a $800 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $43.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan. (Round your answer to two decimal places.)Joshua borrowed $1,400 for one year and paid $70 in interest. The bank charged him a service charge of $12. If Joshua repaid the loan in 12 equal monthly payments, what is the APR? (Enter your answer as a percent rounded to 1 decimal place.) APR
- Phillip purchased a machine for $20,000 for his company. He paid 5.00% of this amount as a down payment and financed the rest at 7.82% compounded quarterly. He paid $1,125 at the end of every quarter to settle the loan. a. What was the principal portion of payment number 4? b. What was the interest portion of payment number 4?PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASProblem 1:Domingo Medina wants to know the amount of the quarterly rent, for which he would have to exchange a total lump sum payment of $750,000.00, with the condition that it be paid to him or his heirs for 12 years. If the finance company operates at 8¼% interest, find the value of the quarterly rent. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel.Tom took out a $20,000 loan for 146 days and was charged simple interest. The total interest he paid on the loan was $488. As a percentage, what was the annual interest rate of Tom's loan? Assume that there are 365 days in a year, and do not round any intermediate computations. If necessary, refer to the list of financial formulas.
- Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past year. The A.P.R. on her credit card for the past year was 19.99%. Approximately how much interest would Louisa have paid over the course of the year? She would have paid interest charges of $2,000. She would have paid interest charges of $20. The credit card company would have paid Louisa $20. She would have paid interest charges of $200.Jina obtains a loan for home renovations from a bank that charges simple interest at an annual rate of 7.45%. Her loan is for $12,700 for 62 days. Assume eachday is365of a year. Answer each part below.Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas.(a) Find the interest that will be owed after 62 days. (b) Assuming Jina doesn't make any payments, find the amount owed after 62 days.You have entered into an agreement for the purchase of land. The agreement specifies that you will take ownership of the land immediately. You have agreed to pay $50,000 today and another $50,000 in three years. Calculate the total cost of the land today, assuming a discount rate of (a) 5%, (b) 7 %, or (c) 9%. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $1, PV of $1, FVA of $1, and PVA of $1) a. b. C. Payment Amount $ 50,000 50,000 50,000 Interest Rate 7 5% 7% 9% Answer is complete but not entirely correct. Compounding Annually Annually Annually Period Due 3 years 3 years 3 years $ Total Cost of Land Today 93,121.25 X 90,816.30✔ 88,617.30
