Question

so can anyone help me with this problem at least:
POINTS- MORTGAGE

Lucy is financing $370,000 to purchase a house. How much money will she save over the life of a
30-year, fixed-rate loan by buying 3 points with a rate of 6.175% instead of not buying points with a rate of 6.55%?

Answer 1

do you have a book online that i can read up on this

Answer 2

im not familiar with the jargon, what are points?

Answer 3

origination points and discount points

Answer 4

im not familiar with the meaning of that,

Answer 5

what book are you using?

Answer 6

@perl Its advanced algebra with financial applications

Answer 7

can you give me title and edition

Answer 8

thanks buddy :D

Answer 9

its florida virtual... an online class so it just has a lesson. we dont get books just what they give us in the lesson...

Answer 10

awww

Answer 11

well if you gave me your username and stuff i could read up on it and help you

Answer 12

i mean you can post the question, but i doubt anybody will be able to help

Answer 13

you wont go in and like fail me or anything ? lol. just kidding. Username: Donzhanec Password: clarkfam3

Answer 14

@perl

Answer 15

i understood some of the material. but these lessons im on now... i am clueless i read about them and dont understand where the formulas are or how to set anything up @perl

Answer 16

thanks

Answer 17

whats teh website?

Answer 18

flvs.net

Answer 19

thanks, now what part are we doing, ok one sec

Answer 20

it'd be the difference between the two compound interest formulae

Answer 21

what did you get/

Answer 22

@electrokid can you set this one up using the formula ?

Answer 23

@perl just look in my assessments and to read about them go in the lesson.