James and Amy have decided to buy a new home that costs $240,000. They want to make a
20% down...
Mathematics, 23.04.2020 06:18 chaosdamax8295
James and Amy have decided to buy a new home that costs $240,000. They want to make a
20% down payment and finance the rest over 30 years. They can lower the quoted interest
rate of 3.75% by 0.125% per point. Each point will cost 1% of the amount borrowed. How
much will it cost to buy 3 points and what will the new interest rate be?
Answers: 2
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