On March 31, year 1, Mary borrowed $330,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 5 percent to 4 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid?
A) $83.
B) $247.5.
C) $7,425.
D) $9,900.
Correct Answer:
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