Business, 02.01.2021 05:00 BLESSEDKIDD1998

A new $300,000 mortgage for 30 years can be obtained with principal and interest payments of $2,193.41, with no discount points. A mortgage that has a slightly lower interest rate has payments of $2,126.00, but the borrower must pay two points. Using simple arithmetic, how many months will it take him to break even on the lower interest-rate loan

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A new $300,000 mortgage for 30 years can be obtained with principal and interest payments of $2,193....