What is the payback period for the lower priced mortgage


Problem

Frank and Carole have to decide between a 5% mortgage and a 4.25% mortgage with 1 pre-paid point. The loan value is $175,000 and both are conventional 30-year fixed rate mortgages. What is the payback period for the lower priced mortgage?

Request for Solution File

Ask an Expert for Answer!!
Corporate Finance: What is the payback period for the lower priced mortgage
Reference No:- TGS03224300

Expected delivery within 24 Hours