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Debbie McAdams paid 10% interest on a $17,000 loan balance. Jan Burke paid $9,680 interest on a $10,000 loan Based on 1 year a. What
Debbie McAdams paid 10% interest on a $17,000 loan balance. Jan Burke paid $9,680 interest on a $10,000 loan Based on 1 year a. What was the amount of interest paid by Debbie? Interest paid by Debbie b. What was the interest rate paid by Jan? (Round your answer to the nearest tenth percent.) Interest rate paid by Jan % c. Debbie and Jan are both in the 28% tax bracket. Since the interest is deductible, how much would Debble and Jan each save in taxes? (Round your answers to the nearest cent.) Debbie Jan Save in taxes
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