Question
Wally Bee purchased a new home for $450,000 with a $90,000 down payment. He financed the remainder with a 3% mortgage for 30 years. Wally's
Wally Bee purchased a new home for $450,000 with a $90,000 down payment. He financed the remainder with a 3% mortgage for 30 years.
Wally's bank has offered to lower the 3% interest rate on his 30 year loan to 2.65% if Wally will pay 1 1/4 points. What will the points cost Wally?
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
2nd Edition
0324117752, 9780324117752
