Mia bought a hifg-definition television for $7,500. Based on her income she could afford to pay back $600 per month. There is a 1.5% monthly interst charge on any unpaid balance. The U.S. Rule is used in the calculation. At the end of the month 1, the balance outstanding is:

Dorothie paid the following amounts during the current year: Interest on her home mortgage (pre-12/16/17) $9,250 Service charges on her checking account 48 Credit card interest 168 Auto loan interest 675 Interest from a home equity line of credit (HELOC) 2,300 Interest from a loan used to purchase stock 1,600 Credit investigation fee for loan 75 Dorothie's residence has a fair market value of $250,000. The mortgage is secured by the home at the time of purchase and has a balance of $180,000. Dorothie used the same home to secure her HELOC with a balance of $50,000. Dorothie used the proceeds of her HELOC to pay for college and to buy a new car. Dorothie has $1,000 of net investment income. Compute Dorothie's interest deduction in the following scenarios: a. Calculate Dorothie's interest deduction (on Schedule A) for 2021. b. Same as part a, and Dorothie used the HELOC proceeds to add a new bedroom to her home. c. Same as part a, but Dorothie's home is valued at $1,200,000 and her…

Sonny has paid the following gas bills in the year ended 31 December 2021: £3,000 for the 3 months ended 28 February 2021£4,500 for the 3 months ended 31 May 2021 £4,500 for the 3 months ended 31 August 2021£6,000 for the 3 months ended 30 November 2021 In March 2021 he received a bill for £6,000 for the 3 months ended 28 February 2022. What is the charge to P/L for rent for the year ended 31 December 2021? a) £24,000b) £18,000c) £20,000d) £19,000

Christina Hercher borrowed $50,000 on a 90-day 8% note. Christina paid $3,000 toward the note on day 40. On day 60 she paid an additional $4,000. Using the U.S. Rule, Christina's adjusted balance after the first payment is:   Multiple Choice   $49,555.56   $444.44   $47,444.44

Triage has paid the following rent bills in the year ended 31 December 2020: £3,000 for the 3 months ended 28 February 2020 £4,500 for the 3 months ended 31 May 2020 £4,500 for the 3 months ended 31 August 2020 £6,000 for the 3 months ended 30 November 2020 In March 2021 he received a bill for £6,000 for the 3 months ended 28 February 2021. What is the charge to P/L for rent for the year ended 31 December 2022? a) £24,000 b) £20,000 c) £18,000 d) £19,000

Caitlin made a prepaid purchase of medical insurance of $3,000 for the year. In seven months he cancelled the insurance. Calculate the pro-rated refund he should receive from the insurance company.     Kristin saved up C$3,600 to use for her travels during her summer holidays. She first travelled from Toronto to Switzerland, where she converted all her Canadian dollars to Swiss francs at an exchange rate of C$1 = CHF 0.7621. She spent CHF 1,467 and then travelled to London, where she converted the remaining Swiss francs to British pounds at an exchange rate of CHF 1 = £0.7723. She spent £571.34 in London before returning to Toronto. How many Canadian dollars did she receive when she converted the remaining British pounds to Canadian dollars, if the exchange rate when she returned was C$1 = £0.5739?

On March 31, year 1, Mary borrowed $240,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid? Multiple Choice ___ $60. ___ $180. ___ $5,400. ___ $7,200.

Melissa recently paid $760 for round trip airfare to San Francisco to attend a business conference for three days. Melissa also put the following expenses: $370 fee to register for the conference, $365 per night for three nights' lodging, $250 for meals and $300 for can fare. Suppose that San Francisco was Melissa permanent residence and business location. She attended the conference in San Francisco and paid $370 for the registration fee. She drove 153 miles over the course of theee days and paid $190 for parking at the conference hotel. In addition, she spent $430 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel, and she bought dinner on her way home each night from the conference. What amount of these costs can Melissa deduct as business expenses?

James Co. borrowed $1,200 on a 90-day, 11% note. After 15 days, James paid $200 toward the note. James made an additional payment of $150, 40 days later. What is the final balance due and total interest for the U.S. Rule? Use ordinary interest.

On January 1, Frank bought a used car for $7200 and agreed to pay for it as follows: down payment; the balance to be paid in 36 equal monthly payments; the first payment due February 1; an annual interest rate of 9%, compounded monthly. (a) What is the amount of Frank’s monthly payment? (b) During the summer, Frank made enough money to pay off the entire balance due on the car as of October 1. How much did Frank owe on October 1?