Jennifer is working with her mortgage lender on the terms of her new $160000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $566) and 4.25% with one point (monthly payment $552). If Jennifer plans to live in the house for 5 years, does it make sense for her to pay the point? Yes, 11 months is breakeven. No, 10 years is breakeven. Yes, 6 months is breakeven. No, 11.4 years is breakeven. If you have an adjustable rate mortgage with an initial rate of 3.60 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? 9.60 percent 5 percent 6 percent 8.60 percent Jennifer is working with her mortgage lender on the terms of her new $160000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $566) and 4.25% with one point (monthly payment $552). If Jennifer plans to live in the house for 5 years, does it make sense for her to pay the point? Yes, 11 months is breakeven. No, 10 years is breakeven. Yes, 6 months is breakeven. No, 11.4 years is breakeven. If you have an adjustable rate mortgage with an initial rate of 3.60 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? 9.60 percent 5 percent 6 percent 8.60 percent