Question

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?

Answer 1

hahah funny

Answer 2

what is

Answer 3

what is what

Answer 4

@kaybetch

Answer 5

point means 1 percent of the original loan
4 points would be 4% of the original loan.