Question
In: Finance
You are buying a house and the mortgage company offers to let you pay a "point"...
You are buying a house and the mortgage company offers to let you pay a "point" 1.0% of the total amount of the loan) to reduce your APR from 5.88% to 5.63% on your $419,000, 30-year mortgage with monthly payments. If you plan to be in the house for at least five years, should you do it? (Note: Be careful not to round any intermediate steps less than six decimal places.)
The monthly mortgage payment at 5.88% APR is $_ ?
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As nothing was mentioned excel is used.
jeff jeffy answered 6 days agoRelated Solutions
You are buying a house and the mortgage company offers to let you pay a "point"...
You are buying a house and the mortgage company offers to let
you pay a "point" (1.0 % of the total amount of the loan) to
reduce your APR from 6.24% to 5.99% on your $409,000, 30-year
mortgage with monthly payments. If you plan to be in the house for
at least five years, should you do it? (Note: Be careful not to
round any intermediate steps less than six decimal places.)
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You are buying a house and the mortgage company offers to let you pay a "point"...
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and the mortgage company offers to let you pay a "point" (1.0 %
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on your $429,000,
3030-year mortgage with monthly payments. If you plan to be in the
house for at least five years, should you do it?
The PV of the monthly
savings is $
The balance of the
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You are buying a house and the mortgage company offers to let you pay a "point"...
You are buying a house and the mortgage company offers to let
you pay a "point"
(1.0 %
of the total amount of the loan) to reduce your APR from
6.46 %
to
6.21 %
on your
$ 403 comma 000
,
30
-year
mortgage with monthly payments. If you plan to be in the house
for at least five years, should you do it? (Note: Be careful not
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