Ask Question
13 November, 13:25

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

+1
Answers (2)
  1. 13 November, 13:37
    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. 13 November, 13:40
    0
    apex verified answer is $1584
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Bode's monthly mortgage payment was $1200 last year, and on average, 11% of each payment was interest. If Bode itemizes deductions on his ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers