A. qtps allow individuals to participate in prepaid tuition plans whereby tuition credits are purchased for a designated beneficiary for payment or waiver of higher education expenses, or participate in savings plans whereby contributions of money are made to an account to eventually pay for higher education expenses of a designated beneficiary.

b. prepaid tuition plans are plans where prepayment of college tuition is allowed at current prices for enrollment in the future. c. a savings plan is a type of qtp where the owner of the account contributes cash to the account so that the contributions can grow tax deferred. d. one of the disadvantages of qtps is that the owner/contributor shares control of the account with the student/beneficiary.

Two options are correct, but only the following statement is incorrect: d. One of the disadvantages of QTPs is that the owner/contributor shares control of the account with the student/beneficiary.

Explanation:

A qualified tuition program (QTP) is a program established and maintained by a state, or an agency or entity of a state, that allows a taxpayer to pay in advance the qualified higher education expenses of a beneficiary in an eligible educational institution or to contribute to an account to pay those expenses. Eligible educational institutions may also establish and maintain QTP, but only to allow a beneficiary's qualified higher education expenses to be paid in advance. After December 31, 2017, qualified higher education expenses include tuition fees in connection with the enrollment or attendance of a designated beneficiary in a public, private or religious primary or secondary school, that is, from kindergarten through Grade 12, up to a total amount of $ 10,000 per year of all QTP of the designated beneficiary.

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of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.