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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
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
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