What would the breakdown of interest and principal

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Reference no: EM131955336

1. The tax rates are as shown.

Taxable Income Tax Rate

$0 – 50,000 15%

50,001 – 75,000 25%

75,001 – 100,000 34%

100,001 – 335,000 39%

Your firm currently has taxable income of $81,100. How much additional tax will you owe if you increase your taxable income by $22,300?

$7,582

$7,372

$7,752

$8,697

$7,362

2. A fully amortizing mortgage CPM loan is made for $100,000 at 12% interest for 30 years. Payments are to be made monthly. What would the breakdown of interest and principal be during month 20? (Choose the nearest value)

a. 1010; 19

b. 994.; 35

c. 998; 31

d. 1029; 115

Reference no: EM131955336

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