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Japan Home Loan Tax Deduction (住宅ローン控除) Knowledge Check

Sharpen your japan home loan tax deduction (住宅ローン控除) skills with algorithmically generated problems. Each attempt produces unique values to test your formula knowledge.

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You purchased a standard new home which has an eligible loan cap of 25 million yen. If your actual year-end loan balance is 40 million yen (which exceeds the cap), what is your actual maximum annual tax deduction at the 0.7% rate?

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