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Business, 22.04.2020 03:27 NeverEndingCycle
In order to make the monthly mortgage payment on a new house affordable, Kolton will need to obtain a lower mortgage interest rate. Kolton’s bank has offered to reduce the rate of his mortgage from 5.10% to 4.20% if he pays one point at closing. If the amount of the mortgage is $490000, how much must Kolton pay to reduce his interest rate?
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Answers: 3
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