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How much interest did pay in year one and fifth

Five years ago you bought a $131,000 building to house your business using a 25 year mortgage at 12% per year paid monthly.

a. Since interest paid for business use is tax deductible, how much interest did you pay in the fifth year? In the 6th year?

b. How much interest did you pay in year one?

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much interest did pay in year one and fifth

Reference No:- TGS0677387

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

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Solution Preview :

Prepared by a verified Expert

Finance Basics: How much interest did pay in year one and fifth

Reference No:- TGS0677387

Recent Questions Asked Finance Basics

Q : Recognized depreciation on manufacturing property

Q : What weights should mv corporation use in its wacc

Q : How an amount reduces the net income

Q : Calculate the annual rate of return

Q : How much interest did pay in year one and fifth

Q : Prepare an incremental analysis for the special order

Q : Brochure-newsletter or presentation on a religion

Q : Explain the effort on a call option-s price

Q : Compute the partnerships total assets

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