Multiple Choice
On January 1,2016,your sister's pet supplies business obtained a 30-year amortized mortgage loan for $250,000 at a nominal annual rate of 7.0%,with 360 end-of-month payments.The firm can deduct the interest paid for tax purposes.What will the interest tax deduction be for 2016?
A) $17,419.55
B) $17,593.75
C) $17,769.68
D) $17,947.38
E) $18,126.85
Correct Answer:
Verified
Correct Answer:
Verified
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