Josiah takes a multiple-choice quiz that has three questions. Each question has five answer options. If he randomly chooses his
2 answers:
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Amount Financed(P) = $ 128,000
Time = 15 year
Rate of interest= 5.05%
Amount after 15 years translates to,
Rose and Andrew has taken four points to lower their rate to 4.81% .
Amount after 15 years translates to, if rate of interest is 4.83 %
Cost of four points = 268,009.890 - 259,713.0404
= $8296.8496