This month you made a mortgage payment of $ 700, of which $ 600 was an interest

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This month you made a mortgage payment of $ 700, of which $ 600 was an interest payment and $ 100 a payment of the loan principal. You are in the 25% marginal tax bracket. What is the tax savings as a result of this payment?

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Personal Finance

ISBN: 978-0132994347

5th edition

Authors: Jeff Madura

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Question Posted: Oct 13, 2015 05:37 AM

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This month you made a mortgage payment of $ 700, of which $ 600 was an interest

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