Zeke purchased a life insurance policy 4 years ago. he inadvertently stated that he was 3 years younger than his actual age. if
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The time taken to break even at buying 1 point will be in<u> 9 years</u>.
Given,
- Monthly mortgage payment =$958
- Monthly payment will be reduced to buy 1 point =$948.75
- Cost of each point =$1,000
Computation:
1. The computation of the reduced amount in the monthly mortgage payment:
2. The computation of yearly mortgage payment:
3. The computation of the number of years for the break-even by buying 1 point:
Therefore, to break even by buying 1 point the holder requires 9 years to reach.
To know more about mortgage payments, refer to the link:
Answer:
Attached image is the plotted and labeled graph.
Explanation:
- Bundle values are:
A. (9,1)
B. (3,7)
C. (4,0)
D. (8,8)
E. (6,5)
- Count over on the x-axis then count up on the y-axis.
- Start marking the values of y-axis above the x-axis on the graph.
