Recent Posts • Latest Topics • Unanswered Questions

Naomi is working with her mortgage lender on the terms of her new $100,000 30-year, fixed-rate ...

westleafs

wrote...

Go to Answer

Posts: 134

Rep:

10 months ago

Naomi is working with her mortgage lender on the terms of her new $100,000 30-year, fixed-rate ...

Naomi is working with her mortgage lender on the terms of her new $100,000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $506) and 4.25% with one point (monthly payment $492). If Naomi plans to live in the house for 5 years, does it make sense for her to pay the point?

▸ No, 6 years is breakeven.

▸ Yes, 7 months is breakeven.

▸ Yes, 6 months is breakeven.

▸ No, 7.1 years is breakeven.

Textbook

Personal Finance

Edition: 2^nd

Author: Bajtelsmit

Read 50 times

1 Reply

Report

Replies

Answer verified by a subject expert

sherry94

wrote...

Posts: 143

Rep:

10 months ago

More solutions for this book are available here

Report

Related Topics

westleafs Author

wrote...

10 months ago

This calls for a celebration Person Raising Both Hands in Celebration

ethom947

wrote...

Yesterday

This helped my grade so much Perfect

AlahuKakpar

wrote...

2 hours ago

Good timing, thanks!

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1053 People Browsing

127 Signed Up Today

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

129

1160

463

Your Opinion

Previous poll results: Do you believe in global warming?

Courses by Biology Forums

It's sore throat season, why does my mucus have red spots?

Strange Ingredients Lurking in Doritos Chips

The Toxic Skin and Fungi Defense

Bonobos, Chimpanzees, and the 98% DNA Link

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.