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Posted on May 19, 2024

Jack and Jill are in the 2 5 % tax bracket and want to borrow $ 5 0 , 0 0 0 for a truck.

Jack and Jill are in the

25 %

tax bracket and want to borrow $

50, 000

for a truck. They can get a consumer loan at

9.50 %

or take out a tax deductible second mortgage on their house for

11 % .

Which loan should they choose?

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