Estimating the interest tax deduction


On January 1, 2009, your brother's business obtained a 30-year amortized mortgage loan for $250,000 at a nominal 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 2009?

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Finance Basics: Estimating the interest tax deduction
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