Ask Question
27 April, 16:19

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

+3
Answers (2)
  1. 27 April, 16:26
    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. 27 April, 19:30
    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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers