Question

Applying the interest allowance method, compute Julie’s and Jennifer’s share of net income if Julie invested $40,000 and Jennifer invested $24,000 at an 8% interest rate, with the remainder to be divided equally. Net income was $10,000.
A. Julie $3,200; Jennifer $1,920

B. Julie $6,250; Jennifer $3,750

C. Julie $5,640; Jennifer $4,360

D. None of the above

Answer 1

@TorilovesVampires

Answer 2

i gotta hurry my test is about to end

Answer 3

c

Answer 4

ok