I need helping solving letter b thank you Debbie McAdams paid 8%...
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I need helping solving letter b thank you
Debbie McAdams paid 8% interest on a $5,000 loan balance. Jan Burke paid $4,750 interest on a $50,000 loan. Based on 1 year: a. What was the amount of interest paid by Debbie? b. What was the interest rate paid by Jan? Note: Round your answer to the nearest tenth percent. Answer is complete but not entirely correct. \begin{tabular}{|l|c|} \hline Interest rate paid by Jan & 8.0 \\ \hline \end{tabular} c. Debbie and Jan are both in the 28% tax bracket. Since the interest is deductible, how much would Debbie and Jan each save in taxes? Note: Round your answers to the nearest cent
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