How many points must a lender change to bring the contract rate of 4.0% up to 5.0%

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How many points must a lender change to bring the contract rate of 4.0% up to 5.0% for a 25-year loan (monthly payments) of 200,000? Assume the bank averages 10 years prior to payoff of the loan and solve to the nearest cent.

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Oct 09, 2023 08:08 AM

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How many points must a lender change to bring the contract rate of 4.0% up to 5.0%

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To determine how many points a lender must change to bring the contract rate of 40 up to 50 for a 25... View the full answer

Income Tax Fundamentals 2013

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