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You are considering buying a condo in NYC. You are borrowing $500,000. You have two financing options: Option A: 30-year mortgage 7.8% APR and 1

You are considering buying a condo in NYC. You are borrowing $500,000. You have two financing options:

Option A: 30-year mortgage 7.8% APR and 1 point

Option B: 30-year mortgage 7.2% APR with two points.

Which option would be best?

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