The interest expense needs to be annualized. The first step is to divide the student loan interest by 12 months for the interest paid monthly, then the monthly amount needs to be multiplied by the number of months in CA (9.5).
- 885/12 months = 73.75 per month.
- 73.75 monthly interest X 9.5 months in CA = 700.63 CA Student Loan Interest.
