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OpenStudy (anonymous):
Mark and Marcy have obtained a 30-year, fixed rate mortgage for $650,250 with a 7.15% interest rate. They purchased 2 points and their rate is now 6.975%. Factoring in the cost of points, when is the break-even point on their mortgage? 14 years, 2 months 9 years, 6 months 7 years, 1 month 7 years, 0 months
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