On March 31, year 1, Mary borrowed $200,000 to buy her principal residence. Mary paid 1 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid?
A) $17.
B) $50.
C) $1,500.
D) $2,000.
Correct Answer:
Verified
Q67: On March 31, year 1, Mary borrowed
Q68: Jessica purchased a home on January 1,
Q69: Which of the following statements regarding deductions
Q70: Amanda purchased a home for $460,000 in
Q71: On April 1, year 1, Mary borrowed
Q73: Which of the following statements regarding the
Q74: Patricia purchased a home on January 1,
Q75: Which of the following statements regarding the
Q76: On April 1, year 1, Mary borrowed
Q77: Which of the following statements regarding deductions
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents