On March 31, year 1, Mary borrowed $200,000 to buy her principal residence. Mary paid 3 points to reduce her interest rate from 6 percent to 5 percent. The loan is for a 30-year period. What is Mary's year 1 deduction for her points paid?
A. $150.
B. $4,500.
C. $50.
D. $6,000.
Answer: D
Business
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