Homework Answers
Solution
The correct answer is e) none of the above
As redeemable bonds amounting to $ 14,000 (principal = $ 10,000, interest = $ 4000) is more than educational expenses of $ 12,600
Hence amount of interest income = $12,600/$14000 * 4000 = $ 3600
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8. In 2018, Mr. and Mrs. Drake redeem Series EE bonds and receive $14,000, consisting of...
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