Rajiv and Laurie Amin are recent college graduates looking to purchase a new home. They are purchasing
Question:
a. Assuming the Amins do not itemize deductions, what is the break-even point for paying the point to get a lower interest rate?
b. Assuming the Amins do itemize deductions, what is the break-even point for paying the point to get a lower interest rate?
c. Assume the original facts except that the amount of the loan is $300,000. What is the break-even point for the Amins for paying the point to get a lower interest rate?
d. Assume the original facts except that the $180,000 loan is a refinance instead of an original loan. What is the break-even point for paying the point to get a lower interest rate?
e. Assume the original facts except that the amount of the loan is $300,000 and the loan is a refinance and not an original loan. What is the break-even point for paying the point to get a lower interest rate?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Question Posted: