$105,000
30-year fixed
5.875%
Mathematics, 12.04.2021 01:00 Naysa150724
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
Answers: 2
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You know the right answer?
A bank offers the following loans:
Bank A Bank B
$105,000
30-year fixed
5.875%
$105,000
30-year fixed
5.875%
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