The loan amount is 200,000, the down payment is 20,000 and the loan term is...
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Accounting
The loan amount is 200,000, the down payment is 20,000 and the loan term is 30 years. The interest rate is 5%. To get the 30-year mortgage at 5%, we must pay 2 points at the time of closing. What is the cost of 2 points on the mortgage?
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