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Question 16 Based on the following information of mortgage choices, identify NOT properly priced mortgage(s) Mortgage Choice Rate Points Actual cost for holding 30 years

Question 16

Based on the following information of mortgage choices, identify NOT properly priced mortgage(s)

Mortgage Choice Rate Points Actual cost for holding 30 years Actual cost for holding 1 year

a 4.5% 0 4.61% 5.82%

b 4.75% 1 4.69% 6.91%

c 4.0% 0.5 4.15% 5.80%

d 3.5% 3 3.85% 8.09%

Mortgage Choice b

Mortgage Choices b and c

Mortgage Choices b and d

Mortgage Choices c and d

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