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If you purchase an office building and take out a loan for $663,750 you can deduct your interest payments when calculating your tax liability. Assume
If you purchase an office building and take out a loan for $663,750 you can deduct your interest payments when calculating your tax liability. Assume you take out a fully amortizing 30 year fixed rate mortgage with an 8% annual interest rate. Using your financial calculator, calculate that amount of your mortgage payment that goes towards interest in the first month? What amount goes toward interest in the second month?
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