1. Amy earned a gross income of $51,750 last year. She made $644.28 in IRA contributions, donated $713to her favorite charity and paid $1,217.30 in home mortage interest. If Amy claims a standard deducation of $5,700 and her exemption is $3,650, what is her taxable income?
2. Abraham purchased a living room set for $3,742 using an 18-month deferred payment plan with an interest rate of 18.79%. What is the balance after the deferment period if no payments are made?
