You plan to purchase a house for $110,000 using a 30-year mortgage from your local...
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You plan to purchase a house for $110,000 using a 30-year mortgage from your local bank. You will make a down payment of 10% of the purchase price. You intend to keep the house for life. Your bank offers you the following two options, A: Rate of 9.25 % and zero discount points. B: Rate of 9.0 % and three discount points. What is the upfront cost of you choose option B? c x
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