In which of the following cases would you most likely buy a point when closing on a home loan? a. the monthly payment is reduced by $8 and you plan to sell the home at the end of 3 years. b. the monthly payment is reduced by $10 and you plan to sell the home at the end of 4 years. c. the monthly payment is reduced by $12 and you plan to sell the home at the end of 5 years. d. the monthly payment is reduced by $14 and you plan to sell the home at the end of 7 years.

Option d

Step-by-step explanation:

Given that there are four different cases when closing on a home loan.

Option a is monthly payment reduced by 8 and sale after 3 years

b is by 10 and sale after 4 years

c is reduced by 12 and sale after 5 years

d is reduced by 14 and sale after 7 years

Out of these we find that Option d has the reduction of highest in the monthly payment compared to others.

Also sale at the end of 7 years the longest duration so that the reduction can be enjoyed for more number of years.

So option d is the preferable one.

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