You have a 30-year mortgage that had a beginning balance of $336,614 and an interest rate of
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Question:
You have a 30-year mortgage that had a beginning balance of $336,614 and an interest rate of 3.02%. Your first payment was on January 5.
What is the value of your tax deduction over the first year (12 payments) if your marginal tax rate is 15.09%?
Answer should be formatted as a dollar amount rounded to the nearest cent.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: