Which of the Following Types of Interest Are Not Likely

question 71

Multiple Choice

Which of the following types of interest are not likely to be deductible in 2017?

• A)Interest on personal credit cards
• B)Interest on a $40,000 home equity line used to buy a car
• C)Interest on a $150,000 mortgage on a principle residence
• D)Interest on a $90,000 home equity line used to pay college tuition
• E)All of the above are likely to be deductible

Understand the dynamics of morale and its impact on individual or group performance.

Demonstrate knowledge of finding personal fulfillment through career choices.

Understand the principles of positive psychology and its focus on individual strengths.

Elaborate on short-term goal setting and its significance in personal development.

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Definitions:

Small Denomination CDs

Certificates of Deposit that are issued in relatively small amounts, making them accessible to individual investors.

Money Supply

The sum of monetary holdings in an economy, which includes cash, coins, and the balances in checking and saving accounts, at a specific instant.

Standard of Value

A criterion that allows the value of various goods and services to be compared.

Store of Value

A store of value is an asset that maintains its value over time without depreciating, allowing it to be saved, retrieved, and exchanged at a later time.