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8. Marina wants to take out a $500,000 loan to purchase a new home. The bank offers a 25-year loan with an APR of 3.8%.
- 8. Marina wants to take out a $500,000 loan to purchase a new home. The bank offers a 25-year loan with an APR of 3.8%. If she purchases 1 point for 1% of the value of the loan, she will reduce her APR by 0.3%. a. What is her monthly savings with the point purchase?
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408076866
