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How many points must a lender change to bring the contract rate of 4.0% up to 5.0% for a 25-year loan (monthly payments) of 200,000?
How many points must a lender change to bring the contract rate of 4.0% up to 5.0% for a 25-year loan (monthly payments) of 200,000? Assume the bank averages 10 years prior to payoff of the loan and solve to the nearest cent
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Foundations of Finance The Logic and Practice of Financial Management
Authors: Arthur J. Keown, John D. Martin, J. William Petty
8th edition
132994879, 978-0132994873
