Tom,whose MAGI Is $40,000,paid $3,500 of Interest on a Qualified

question 94

True/False

Tom,whose MAGI is $40,000,paid $3,500 of interest on a qualified student loan in 2016.Tom is single.He may deduct the $3,500 interest as an itemized deduction.

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Definitions:

Price Elastic

The degree to which the demand for a product changes in response to a change in its price.

Price Inelastic

Characterizes a situation where the demand for a good or service does not significantly change with a change in its price.

Price Volatile

Refers to sudden and significant price changes within short periods, often seen in markets for commodities or securities.

Marketing Mix

The factors that a business can change in selling products to customers—product, place, price, and promotion.