Author Question: Tyler has rented a house from Camarah since last year. The rent is usually $1,200 per month, but ... (Read 66 times)

anjilletteb · **on:** Sep 13, 2020

Question 1

Thomas purchased an annuity for $20,000 that will pay him $500 per month for ten years. What amount should Thomas include in his income each year?
◦ $0
◦ $2,000
◦ $4,000
◦ $6,000

Question 2

Tyler has rented a house from Camarah since last year. The rent is usually $1,200 per month, but Camarah reduced the monthly rent down to $200 for all twelve months this year in exchange for Tyler putting in an inground pool in the backyard. The improvement has a fair market value of $20,000. How much total rental income must Camarah report this year?
◦ $14,400
◦ $12,000
◦ $2,400
◦ $22,400

fatboyy09 · **Reply #1 on:** Sep 13, 2020

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