Homework Help: College Algebra and Finance

Posted by Logan on Friday, December 7, 2012 at 4:00pm.

Please help! Just need the answer...
A lender gives you a choice between the following two 30-year mortgages of $200,000:
Mortgage A: 6.65% interest compounded monthly, one point, monthly payment of $1283.93
Mortgage B: 6.8% interest compounded monthly, no points, monthly payment of $1303.85
Assuming that you can invest money at 5.6% compounded monthly, determine the length of time you must retain the mortgage in order for mortgage A to be the better choice. (Round your answer to two decimal places.)

PLEASE HELP - Logan, Friday, December 7, 2012 at 4:11pm
PLEASE

Answer this Question

Related Questions

math - A lender gives you a choice between the following two 30-year mortgages ...
MANAGERIAL FINANCE plz help!! - Hi, i need some help on my managerial finance ...
accounting - Mel-Tim Corporation has a $100,000 debt payment due in early August...
Finance - I have two finance questions that I need help on - willing to pay. ...
Math - please help me I am not really sure about this please check answer thanks...
accounting - Mel-Tim Corporation has a $100,000 debt payment due in early August...
Writing - i need a idea about a story novel, it has to have the following ...
Algebra - ello i need help factoring I haven't had factorin sense Algebra ...
math formula? - Based on an average cost per year to attend a university or ...
Business Algebra - I need to know the formula for these questions and just how ...

For Further Reading

First Name:
School Subject:
Answer: