Your Brother's Business Obtained a 30-Year Amortized Mortgage Loan for $125,000

question 13

Multiple Choice

Your brother's business obtained a 30-year amortized mortgage loan for $125,000 at a nominal annual 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 Year 1?

• A) $10,800.12
• B) $7,229.11
• C) $8,709.78
• D) $8,100.09
• E) $8,012.99

---

Definitions:

Night Visioning

The ability to see in low-light conditions, achieved through technology that amplifies light or uses thermal imaging.

Bendix XVision

Bendix XVision is a proprietary technology developed by Bendix that enhances vehicle safety through advanced vision systems, likely focusing on improving driver visibility and detection capabilities.

Infra-red

A form of electromagnetic radiation with wavelengths longer than visible light but shorter than microwaves, used in a variety of applications from heating to communication and imaging.

Instrument Cluster Gauges

The collection of displays and indicators located on a vehicle's dashboard providing the driver with vital operational information.