If the rent on an apartment is $600 per month, which is equal to a mortgage payment on a house, how much additional tax savings will you realize if $200 of the monthly mortgage payment is interest and your tax bracket is 25%?

A) $50
B) $600
C) $2,500
D) $7,200

Answer: B
Explanation: B) $200 monthly interest × 12 months × 0.25 tax rate = $600

Business

You might also like to view...

The scale descriptors "never," "rarely," "sometimes," "often," and "very often" are commonly used when studying the ________ construct (Table 9.3 in the text)

A) attitude B) satisfaction C) purchase frequency D) purchase intent

Business

One example of a job that is generally not stressful is:

A) forester. B) public relations executive. C) real estate agent. D) advertising account executive.

Business