Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder

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Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder with a 3% mortgage for 30 years.

Wally's bank has offered to lower the 3% interest rate on his 30 year loan to 2.75% if Wally will pay 1 3/4 points. What will the points cost Wally?

Related Book For answer-question

A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Posted Date: Apr 24, 2024 08:13 AM

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Wally Bee purchased a new home for $450,000 with a $50,000 down payment. He financed the remainder

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1 Loan Amount Calculation Wally purchased a home for 450000 and made a down payment of 50000 Loan Am... View the full answer

A Survey of Mathematics with Applications

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