Question
On April 1, year 1, Mary borrowed $110,000 to refinance the original mortgage on her principal residence. Mary paid 1 points to reduce her interest
On April 1, year 1, Mary borrowed $110,000 to refinance the original mortgage on her principal residence. Mary paid 1 points to reduce her interest rate from 5 percent to 4 percent. The loan is for a 30-year period. How much can Mary deduct in year 1 for her points paid?
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Horngrens Financial And Managerial Accounting The Financial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
6th Edition
978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857
