Question
You are taking out a fully amortizing loan for $20 0,00 over 30 years. You can choose between a loan at 5 % with 3
You are taking out a fully amortizing loan for $200,00 over 30 years. You can choose between a loan at 5% with 3 points and a loan at 5.25% with 1 point. If you plan to stay in the home for 7 years, calculated what is the amount of loan will give you the lower effective borrowing cost?
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Step: 1
1 point reduces the interest rate by 025 So for Option 1 your effective interest rate ...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
