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OpenStudy (anonymous):
ILL GIVE MEDALS I don't know what points are, psl help Rae and Archie are financing $136,000 to purchase a condominium. They obtained a 15-year, fixed-rate loan with a rate of 5.25%. They have been given the option of purchasing up to four points to lower their rate to 5.02%. How much will the four points cost them?
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OpenStudy (anonymous):
hahah funny
OpenStudy (anonymous):
what is
OpenStudy (anonymous):
what is what
OpenStudy (anonymous):
@kaybetch
OpenStudy (phi):
point means 1 percent of the original loan 4 points would be 4% of the original loan.
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