Assume that you have the following existing loans: Credit card debt with interest rate of...
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Accounting
Assume that you have the following existing loans: Credit card debt with interest rate of 22% Auto loan with interest rate of 9% Bike loan with interest rate 6% Personal loan 4% Home equity loans are tax deductible. And you are able to borrow against your home equity at an interest rate of 14%. If your marginal tax rate is 33%, which of the loans would you choose to pay off by borrowing home equity loan? Pay off auto loan and bike loan onl Pay off credit card debt, auto loan and bike loan Better Call Saul! Pay off credit card debt only
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