A homeowner can obtain a 250000 30-year fixed-rate mortgage, Financial Management

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A homeowner can obtain a 250000 30-year fixed-rate mortgage

A homeowner can obtain a $250,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.5 percent with 2.25 points.

If you will keep the mortgage for 30 years, what is the net present value of paying the points (to the nearest dollar)?

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Financial Management: A homeowner can obtain a 250000 30-year fixed-rate mortgage

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Financial Management: A homeowner can obtain a 250000 30-year fixed-rate mortgage

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