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Debbie McAdams paid 4% interest on a $11,000 loan balance. Jan Burke paid $5,775 interest on a $82,500 loan. Based on 1 year: What was
Debbie McAdams paid 4% interest on a $11,000 loan balance. Jan Burke paid $5,775 interest on a $82,500 loan. Based on 1 year: What was the amount of interest paid by Debbie? What was the interest rate paid by Jan? Note: Round your answer to the nearest tenth percent. Debbie and Jan are both in the 28% tax bracket. Since the interest is deductible, how much would Debbie and Jan each save in taxes? Note: Round your answers to the nearest cent
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