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I need help with this question in 10 min please It is Jan 1 today. You just obtained a 30-year amortized mortgage loan for $250,000
I need help with this question in 10 min please
It is Jan 1 today. You just obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7.0%. with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the total interest tax deduction be for the first year of the loan? (Hint: In other words how much will you pay in total interest during your first 12 months of your mortgage payment) $17.947.38 $17,419.55 $17,769.68 $18,126.85 $17,593.75 Step by Step Solution
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