Hello experts, I need help with my finance homework. I don't know if there is a limit to the questions I can ask but I will post 5 here.

6. Sandra is working with her mortgage lender on the terms of her new $260000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $666) and 4.25% with one point (monthly payment $652). If Sandra plans to live in the house for 5 years, does it make sense for her to pay the point?

A. No, 15 years is breakeven.

B. No, 18.6 years is breakeven.

C. Yes, 19 months is breakeven.

D. Yes, 6 months is breakeven.

7. If you have an adjustable rate mortgage with an initial rate of 6.40 percent, an annual interest rate cap of 1 percentage point, and a lifetime cap of 5 percentage points, what is the maximum annual interest rate you could end up paying on the ARM?

A. 12.40 percent

B. 5 percent

C. 11.40 percent

D. 6 percent

8. Your current mortgage payment is $920. Interest rates have fallen and you estimate that, if you refinance your mortgage, your new payment will be $820. You expect closing costs to be $4000. If you plan on selling the home in two years, should you refinance?

A Yes, you will save $1640 on the refinance.

B. No, it will take 3 years to break-even on the refinance.

C. Yes, you will save $2360 on the refinance.

D. No, it will take 40 months to break-even on the refinance.

9. Kevin has started filling out the paperwork for a mortgage to buy a house selling for $170000. He has $25500 for the down payment but doesnt want to purchase mortgage insurance. What will Kevins mortgage lender most likely require?

A. Kevin will have to put up an additional $25500.

B. Kevin will have to put up an additional $8500.

C. Kevin will have to put up an additional $5000.

D. Kevin will have to put up an additional $17000.

10. William's monthly gross income is $3150. He is buying a house that requires a $710 monthly payment. Property taxes would be $170 per month and insurance premiums of $50 per month. What is William's mortgage debt service ratio?

A. 29.52%

B. 59.04%

C. 15.56%

D. 31.12%