Blog

The Thompsons currently have a mortgage on their home with a balance is $875,000. Mortgage rates have recently dropped and they are considering refinancing their mortgage to save on the interest and potentially increasing the amount refinanced to pay off credit card debt.   Which of the following statements would you tell the Thompsons in regards to the above facts?  1. The Thompsons can refinance the credit card debt into the refinanced mortgage and deduct  the full amount of the interest.2. The Thompsons can refinance the existing $875,000 mortgage and deduct the interest on the entire amount.3. The Thompsons can take out a home equity loan their credit card debt and can fully deduct the interest.

Which of the following is/are deductible for adjusted gross income? 1. Capital losses. 2. Ordinary and necessary expenses incurred in a business. 3. Contribution to a Roth IRA. 4. Child support paid to ex-spouse. 

Trish invested $100,000 in an annuity contract. Years later, she annuitized the contract. The insurance company agreed to pay her $1,666.67 per month for 20 years. How much of each payment is taxable?

Stacie recently graduated from college and has student loans that she took out to finance her education – as such Stacie has the primary obligation to repay this debt. As a graduation gift, Stacie’s parents agreed to pay her student loans to help her get established. During the year, Stacie’s parents paid $15,000 of her student loan payments of which $3000 was interest.  How much can Stacie’s parents deduct on their tax return for student loan interest? Assume they are under the AGI limits.  

What is your choice in terms of topic for the final presentation?

Based on the team presentation on the effects of the Russia-Ukraine war on FDI, what do we know about FDI patterns during military conflict?          

Rob Davis is thinking about building an addition to his home in Rio Linda. The house was recently appraised at $239,500, and the balance on his existing first mortgage is $89,950. If Rob’s bank is willing to loan 75% of the appraised value. What is the equity in the house?  

As a follow-up to the previous question, Yogi’s Construction has a $100,000 line of credit at the Jellystone Bank. The annual percentage rate is the current prime rate plus 3%. The balance on October 1 was $22,500. On October 10, Yogi borrowed $15,000 to pay for a shipment of lumber and on October 20 he borrowed another $32,500 for equipment repairs. On October 25, Yogi made a $30,000 payment on the account. The billing cycle for October has 31 days. The current prime rate is 6%. b) _____________ What is Yogi’s new balance?

Farid Smith is the mortgage broker at Rivendell Bank. One of his clients, Shelly Jones, has submitted an application for a mortgage with a monthly PITI of $1,692. His other financial obligations total $896.50 per month. Tom earns a gross income of $5,425 per month. (round answer to nearest tenth of a percent) What is his total obligations ratio?   Lending Expense GuidelinesMortgage Type            Home Expense Ratio             Total Obligations RatioFHA                                           29%                                         41%Conventional                             28%                                         36%

A solution of 10,000 units heparin in 500 mL D5W is to infuse via volumetric pump at 400 units/hr. Calculate the flow rate in mL/hr.