Question
Please show me your work so I know how to solve the problem: A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate
Please show me your work so I know how to solve the problem:
A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.4 percent with 2.35 points. How long must the owner stay in the house to make it worthwhile to pay the points if the payment saving is invested monthly?
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Fundamentals Of Investments Valuation And Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
9th Edition
1260013979, 9781260013979
