Multiple Choice
You have the cash available to pay off a $6500 loan that will cost you $450 in interest this year and you are deciding whether to pay it off or make an investment. If you are in a 30 percent tax bracket, how much interest would you have to earn to make the investment a better decision?
A) More than $450.
B) More than $580.
C) The investment should have a return of 8 percent.
D) The loan rate is 6.9 percent, so the investment should earn a better rate.
Correct Answer:
Verified
Correct Answer:
Verified
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