Business, 24.03.2020 20:49 msladestiny16

A buyer expects to live in his new home for about five years. He is shopping for a new $100,000 mortgage. With no points, he can get a 30-year 8% fixed-rate mortgage with principal and interest payments of $733.76. Another lender has a 7.75% mortgage (payments of $716.41) with one point. How many months will it take the buyer to break even on the points if he takes the lower interest loan, using simple arithmetic

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A buyer expects to live in his new home for about five years. He is shopping for a new $100,000 mort...

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