Luna's monthly mortgage payment was $2100 last year, and on average, 9% of each payment was interest. If Luna itemizes deduction

Question

NISA [10]

3 years ago

9

Luna's monthly mortgage payment was $2100 last year, and on average, 9% of each payment was interest. If Luna itemizes deduction

s on her federal income tax return, how much can she deduct for mortgage interest?

Mathematics

2 answers:

Pachacha [2.7K] · Answer 1 · 2022-03-26T11:13:40+03:00

Pachacha [2.7K]3 years ago

7 0

Answer:

$2268

Step-by-step explanation:

did it on apXX

jeyben [28] · Answer 2 · 2022-03-26T09:59:24+03:00

Answer:

$2268

Step-by-step explanation:

Luna's total mortgage payments for the year would be

... (monthly payment)×(number of months in a year)

... = $2100×12 = $25,200

Of that, 9% went to interest, so the interest amount is ...

... $25,200×9% = $2268

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<em>About percentages</em>

Your calculator may do percentages directly. If not, it can be helpful to realize that the percent symbol (%) means the same thing as /100 (divided by 100). So, 9% = 9/100 = 0.09