Mathematics, 16.04.2020 22:42 VamPL

The bank offers Mark a fixed rate loan with no points and a fixed rate loan with points. The difference in monthly payments between the loan with points and the loan without points is $19.18. The cost of the points is $1,200. What number is closest to the break-even point rounded to the nearest month? (2 points)

5 months

12 months

42 months

63 months

Answers: 1

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The bank offers Mark a fixed rate loan with no points and a fixed rate loan with points. The differe...