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You originated a $506,000 10-year fully amortizing fixed-rate mortgage loan at 4.20% on January 1st of this year with no fees and annual payments. What
You originated a $506,000 10-year fully amortizing fixed-rate mortgage loan at 4.20% on January 1st of this year with no fees and annual payments. What is your annual payments? Please round your answer to the nearest cent (ie, two digits right of the decimal). You also need to answer the following one question using the same assumptions. How much are you eligible to subtract from your taxable income this year due to the mortgage interest deduction? Please round your answer to the nearest cent (ie, two digits right of the decimal)
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