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5 votes
Nell's mortgage is $50,150 at 10 percent for 30 years. What is her monthly payment if she must pay 8.78 points per $1,000? (Points : 1)

$440.32
$439
$422.95
$385.89

1 Answer

6 votes
I actually don't know the actual computation. I used a mortgage points calculator and inputted the data given.

The monthly payment given based on its computation was $440.10. The closest answer is 440.32.

The difference in decimal point is due to the rounding off of 8.78 points to 8.8 points in the calculator.
User Nat Ritmeyer
by
8.0k points
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