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A homeowner can obtain a 250,000, 30 year fixed rate mortgage at a rate of 6.0% with...

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Finance

Ahomeowner can obtain a 250,000, 30 year fixed rate mortgage at arate of 6.0% with zero points or at a rate of 5.5% with 2.25points. How long must the owner stay in the house to make itworthwhile to pay the points if the payment saving is notinvested?

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Ahomeowner can obtain a 250,000, 30 year fixed rate mortgage at arate of 6.0% with zero points or at a rate of 5.5% with 2.25points. How long must the owner stay in the house to make itworthwhile to pay the points if the payment saving is notinvested?

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