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I have been approved for a mortgage and I am able to save $35 on my monthly payment if I pay $2,000 in up front
I have been approved for a mortgage and I am able to save $35 on my monthly payment if I pay $2,000 in up front points. How many months do I need to stay in the house for me to breakeven assuming a 6% discount rate. Please show work.
a. 57
b. 60
c. 65
d. 68
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