Question
On March 31, year 1, Mary borrowed $200,000 to buy her principal residence. Mary paid 1 points to reduce her interest rate from 6 percent
On March 31, year 1, Mary borrowed $200,000 to buy her principal residence. Mary paid 1 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30- year period. What is Mary's year 1 deduction for her points paid?
$17.
$50.
$1,500.
$2,000.
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Effective Auditing For Corporates Ensuring That All The Risks Are Covered
Authors: Bloomsbury, Joe Oringel
1st Edition
1849300445, 978-1849300445
