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Your best friend, who is in 30% Marginal tax Bracket, has decided to buy a home...

Your best friend, who is in 30% Marginal tax Bracket, has decided to buy a home for $ 380,000 in the Worcester County by making a down payment of 15% and financing the balance at a fixed rate 5.75% over 30 years. He needs your help in figuring out the actual monthly Payments (per Month Mortgage Pmts – per month Tax Savings) for the first year.

A- $1507.06

B- $1397.07

C- $1995.82

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