Question
You are considering purchasing an existing single family house for $200,000 with a 20 percent down payment and a thirty-year fixed-rate mortgage at 5.5 percent.
You are considering purchasing an existing single family house for $200,000 with a 20
percent down payment and a thirty-year fixed-rate mortgage at 5.5 percent.
If you decided to buy two points for a rate of 5 percent, how much would you save in
monthly payments? Would it be worth it to buy the points? Why, or why not?
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
