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A bank offers the following loans: Bank A $295,000 25-year fixed 6.275% 2.25 discount points Bank B M = $1,950.59 $295,000 25-year fixed 6.5% 0

A bank offers the following loans:

Bank A $295,000 25-year fixed 6.275% 2.25 discount points

Bank B

M = $1,950.59 $295,000

25-year fixed 6.5% 0 discount points M = $1,991.86

What is the break-even point for the loans?

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