A borrower on a mortgage for $250,000 on a 30-year 5% interest rate pays 1%...
90.2K
Verified Solution
Link Copied!
Question
Accounting
A borrower on a mortgage for $250,000 on a 30-year 5% interest rate pays 1% per point for 4 points each lowering the interest rate by 0.25% will take how long to make up the difference paid for those points based on their monthly payment savings? Select one: a. 73 months b. 68 months c. 58 months d. 63 months
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
