You need a loan of $120,000 to buy a home. Calculate your monthly payments and total closing

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You need a loan of $120,000 to buy a home. Calculate your monthly payments and total closing costs for each choice below. Briefly discuss how you would decide between the two choices.

Choice 1: 30-year fixed rate at 6 % with closing costs of $1800 and no points.

Choice 2: 30-year fixed rate at 5.5% with closing costs of $1800 and 4 points.

What is the monthly payment for choice 1

Related Book For answer-question

Calculus

ISBN: 9781285057095

10th Edition

Authors: Ron Larson, Bruce H. Edwards

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Posted Date: May 17, 2023 02:41 AM

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You need a loan of $120,000 to buy a home. Calculate your monthly payments and total closing

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a Briefly discuss how you would decide between the two choices Once we have calculated the monthly p... View the full answer

Calculus

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