A bank offers the following loans:
Bank A Bank B
$105,000
30-year fixed
5.875%
1.25 discount points
M = $621.11
$105,000
30-year fixed
6%
0 discount points
M = $629.53
What is the break-even point for the loans? (4 points)
about 7 years
about 10 years
about 13 years
about 16 years
Five friends found a dollar on the ground and decided they each should get 1/5 of it. what amount of money will each friend get? $0.05 $0.20 $0.30 $0.80