Without buying points, a monthly mortgage payment will be $1,250. buying 1 point at closing would reduce the payment to $1,236. to the nearest year, how long would it take to break even by buying 1 point, with a $100,000 mortgage? a. 5 years b. 6 years c. 7 years d. 8 years

Option C - 7 years

Step-by-step explanation:

Given : Without buying points, a monthly mortgage payment will be $1,250. Buying 1 point at closing would reduce the payment to $1,236.

To find : How long would it take to break even by buying 1 point, with a $100,000 mortgage?

Solution :

Let x be the number of break even points.

A monthly payment $1,250 reduces to $1,236 by

i.e,

Number of break even points is 89.28.

To find how long it break divide it by 12

Approximately between 7- 8 years.

or 7 years it take to break even by buying 1 point.

Therefore, Option C is correct.

the camry sales+accord sale=828,000. to make it so the two numbers are 18 thousand apart and still equal 828,000, you first need to find out what half of 828,000 is. 828,000/2=414,000. for the two numbers to equal 828,000, you have to add the same amount as you subtract from the middle. in this case, the number is 9,000 because it's half of 18,000. to equal 828,000, you have to add 9,000 to 414,000 for the camry and subtract 9,000 from 414,000 for the accord. 414,000+9,000=423,000.

414,000-9,000=405,000.

423,000+405,000=828,000.

423,000-405,000=18,

hope it

step-by-step explanation:

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