On january 1 2012 your brothers business obtained a 30-year, Ask an Expert

Finance

On January 1, 2012, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7%, with 360 end-of-month payments. The firm can deduct the interest paid for tax purposes. What will the interest deduction in year 1?

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Financial Management, Finance

Category:- Financial Management
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