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I just need an explanation with the answer on number 24. Thanks 24) Justin Lowery is buying a condominium that sells for $140000. The bank

I just need an explanation with the answer on number 24. Thanks

24) Justin Lowery is buying a condominium that sells for $140000. The bank is requiring a 24) minimum down payment of 10%. To obtain a 20-year mortgage at 9.5% interestJustin must pay 1 points) at the time of closing. What is the cost of the 1 point(s) on the mortgage

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