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Jake Coffey is applying for a $200,000 mortgage. He can get a $1,000 monthly payment for principal and interest and no points, or a $800
Jake Coffey is applying for a $200,000 mortgage. He can get a $1,000 monthly payment for principal and interest and no points, or a $800 monthly payment with 2 points? How many months will it take Jake to cover the cost of the discount points if he takes the lower monthly payment? Select one: a. 6 b. 10 c. 18 d. 20 e. 48
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