(Answered) A homeowner can obtain a 350000 30-year fixed-rate mortgage

Statistics

A homeowner can obtain a $350,000, 30-year fixed-rate mortgage at a rate of 6.0 percent with zero points or at a rate of 5.5 percent with 2.5 points. How long must the owner stay in the house to make it worthwhile to pay the points if the payment savings are invested monthly?

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