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Yolanda closed on a 20 year home loan for $83,000. she chooses to buy only 1 point at closing. by buying a point at her closing, yolanda reduced her monthly payment by $7.63. based on the fact that yolanda chose to buy a point at closing, what would you infer is the minimum amount of time that she will own the home?

Respuesta :

Nirina7
$83,000 / 20 = $4150 per year
$4150/12= $345.83 per month
and it is $345,83/30=$11.52 per day
if she reduced $7.63 his monthly payment, she paid $345,83-$7.63=$338.2
so she must pay the remaining $7.63
1day-------->$11.52
     ?<-------------$7.63
7.63/11.52= 0.6 day = 6hours

minimum amount of time is 6 hours

Answer:

The answer would be B. 11 years

Step-by-step explanation: