× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
w
5
a
3
j
2
a
2
t
2
u
2
r
2
j
2
j
2
l
2
d
2
y
2
Home Q & A Board Other Fields Homework Help Business
New Topic  
Ajones7145 Ajones7145
wrote...
Posts: 313
Rep: 0 0
6 years ago
Anna and Bob bought their home for 250,000 in 2001. Since moving in they have completed the following: Pool 25,000 Security System  6,000 Landscape  4,000 Drapes 15,000 Their 2001 loan was at 10 and interest rates are now at 7. Their home is now worth 400,000. Their lender will refinance 320,000 (80 of market value). How much can Anna and Bob refinance and still deduct all interest on their income tax?
Read 36 times
2 Replies

Related Topics

Replies
wrote...
#1
6 years ago
250,000
25,000

6,000

4,000

15,000

300,000 - original cost plus improvements
Ajones7145 Author
wrote...
#2
6 years ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1359 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 321
  
 306
  
 1264
Your Opinion
What's your favorite math subject?
Votes: 559
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?