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On March 31, year 1, Mary borrowed $300,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 7 percent
On March 31, year 1, Mary borrowed $300,000 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? (Enter only numbers with no dollar signs or other punctuation.)
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Accounting Fundamentals For Health Care Management
Authors: Steven A. Finkler, David M. Ward, Thad Calabrese
3rd Edition
1284124932, 9781284124934
