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OpenStudy (anonymous):
Need help!? Please? Payton is eligible for a 30-year, fixed rate mortgage for $209,470 with a 5.35% interest rate. If he buys 4 points, his interest rate will be 4.535%. Factoring in the cost of points, what is the break-even point on his mortgage? a. 16 years, 5 months b. 1 years, 8 months c. 6 years, 9 months d. 8 years, 4 months
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