The credit union offered Zach a $200,000, 10-year loan at a 3.625% APR. Should Zach purchase 1

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The credit union offered Zach a $200,000, 10-year loan at a 3.625% APR. Should Zach purchase 1 point or no points? Each point lowers the APR by 0.125% and costs 1% of the loan amount. Justify your reasoning.

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Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

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Question Posted: Sep 19, 2022 03:19 AM

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The credit union offered Zach a $200,000, 10-year loan at a 3.625% APR. Should Zach purchase 1

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My reasoning is that the bank is taking a very hig...View the full answer

Financial Algebra Advanced Algebra With Financial Applications

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