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Tax-deductible interest

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Max and Claudia Chadwick have a home with an appraised value of $180,000 and a mortgage balance of only $90,000. Given that an S&L is willing to lend money at an loan-to-value ratio of 75 percent. How much, if any, of this line would qualify as tax-deductible interest if their house originally cost $200,000?

Reference no: EM131210667

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