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Mathematics, 19.03.2020 01:26 octaviangh14

Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate. They purchased 3 points and their rate is now 6.875%. Factoring in the cost of points, when is the break-even point on their mortgage?

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Lenny and Lisa have obtained a 30-year, fixed rate mortgage for $675,250 with a 7.25% interest rate....
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