Describe what a loan discount point is and what effect it has on a home loan.

SAMPLE RESPONSE

A loan discount point reduces the interest rate that is paid on a home loan. One point reduces the interest rate by 1/8 of a percent, which reduces the amount of the monthly payment.

Step-by-step explanation:

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step-by-step explanation:

for this case we have by definition, if two lines are perpendicular, then the product of their slopes is -1.

then, given the following line:

so,

we are looking for m_ {2}:

then, the line is given by:

we find "b" replacing the given point:

finally, the equation is:

option c