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6 May, 17:00

Bode's monthly mortgage payment was $1200 last year, and on average, 11% of each payment was interest. If Bode itemizes deductions on his federal income tax return, how much can he deduct for mortgage interest?

A.$1584 B.$100 C.$1332 D.$132

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Answers (2)
  1. 6 May, 17:53
    0
    Bode paid on average $1200 * 11% = $132 each month in interest. If Bode made 12 mortgage payments last year, he paid

    ... 12 * $132 = $1584

    in mortgage interest.
  2. 6 May, 20:46
    0
    apex verified answer is $1584
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