Rose and Andrew are financing 128,000 to purchase a condominium. They obtained a 15 year fixed rate loan with a rate of 5.05%. They have been given the option of purchasing up to four points to lower their rate to 4.81%. How much will the 4 points cost them?

Answer rating: 100% (QA)

Given Amount FinancedP 128000 Time 15 year Rate of interest 505 Now Amount after 15 ye... View the full answer