Question
For each point you pay on a mortgage, you get a one-quarter percent reduction in the interest rate. You want to get a .375% reduction
For each "point" you pay on a mortgage, you get a one-quarter percent reduction in the interest rate. You want to get a .375% reduction on your interest rate. How many points do you have to pay?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
