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please answer correctly asasp!!! Intro A mortgage broker offers you a 20-year fixed rate mortgage over $500,000 with an APR of 18%. Alternatively, you can
please answer correctly asasp!!!
Intro A mortgage broker offers you a 20-year fixed rate mortgage over $500,000 with an APR of 18%. Alternatively, you can pay some points to reduce the APR to 0.175 or 17.5%. A point is one percent of the loan amount. Part 1 - Attempt 1/3 for 10 pts. What is your monthly mortgage payment if you don't pay the points? Correct Part 2 1* Attempt 1/3 for 10 pts. What is the maximum number of points you'd be willing to pay to reduce the APR to 17.5% Step by Step Solution
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