Bridgett's son, Clyde, is $12,000 in arrears on his residential mortgage payments. Of the $12,000, $7,500 represents interest and $4,500 represents principal.
a. If Bridgett pays the $12,000 to the lender, how much can she deduct? How much can
Clyde deduct?
b. If Bridgett pays the $7,500 of interest to the lender and loans or gives $4,500 to Clyde, who pays the $4,500 of principal, how much can Bridgett deduct? How much can Clyde deduct?
c. If Bridgett gives or lends the $12,000 to Clyde who pays the lender, how much can he deduct? How much can Bridgett deduct?
d. Advise Bridgett and Clyde on how the payment should be made.

Question

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The Answer of Bridgett's son, Clyde, is $12,000 in arrears on his residential mortgage payments. Of the $12,000, $7,500 represents interest and $4,500 represents principal.
a. If Bridgett pays the $12,000 to the lender, how much can she deduct? How much can
Clyde deduct?
b. If Bridgett pays the $7,500 of interest to the lender and loans or gives $4,500 to Clyde, who pays the $4,500 of principal, how much can Bridgett deduct? How much can Clyde deduct?
c. If Bridgett gives or lends the $12,000 to Clyde who pays the lender, how much can he deduct? How much can Bridgett deduct?
d. Advise Bridgett and Clyde on how the payment should be made.

Bridgett's Son, Clyde, Is $12,000 in Arrears on His Residential