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On March 31, year 1, Mary borrowed $210,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 7 percent

On March 31, year 1, Mary borrowed $210,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 7 percent to 6 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid?

Multiple Choice

$53.
$157.5.
$4,725.
$6,300.

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