Federal tax deduction-what tax savings does this represent

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Reference no: EM131880191

1. A single MS engineer started a new job at $70,000 A and paid $3000 in interest on her student loans last year. If she uses the federal tax deduction on student loan interest paid, what tax savings does this represent?

2. Calculate the finance charge (ignore the APR) and the monthly payment on a $24,000 add-on installment loan with an interest rate of 5% and a term of 3 years. (Show all keystrokes, calculations, etc.)

Reference no: EM131880191

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