Bob Coffey is applying for a $200,000 mortgage. He can get a $1,000 monthly payment for principal

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Bob Coffey is applying for a $200,000 mortgage. He can get a $1,000 monthly payment for principal and interest and no points, or a $800 monthly payment with 2 points?

How many months will it take Bob to cover the cost of the discount points if he takes the lower monthly payment?

Related Book For answer-question

Financial Accounting and Reporting a Global Perspective

ISBN: 978-1408076866

4th edition

Authors: Michel Lebas, Herve Stolowy, Yuan Ding

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Posted Date: Jun 27, 2023 02:47 AM

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Bob Coffey is applying for a $200,000 mortgage. He can get a $1,000 monthly payment for principal

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To determine the number of months it will take Bob to cover the cost of the discount points we need ... View the full answer

Financial Accounting and Reporting a Global Perspective

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