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You are considering a mortgage for 3 0 years with initial value $ 2 8 0 , 0 0 0 , and annual interest rate
You are considering a mortgage for years with initial value $ and annual interest rate You can reduce your interest rate by buying points. The bank will sell you a point for of the initial value of the loan. Each point you buy reduces your interest rate by You are considering buying points. If you buy these points, how long until your lower monthly payments pay back the cost for these points?
a months.
b months.
c months.
d months.
e months.
f months.
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