Saving each month for the new monthly payment

Assignment Help Financial Management

Reference no: EM131962490

Your old insterest rate was 4%. You can get a same 30 year mortgage of 130,000 at 3.6% interest by paying 2 points at closing. which is 2,000. Find the new monthly payment? How much are you saving each month for the new monthly payment? How long will it take to recover the amount you had to come up with to pay the 2 points? What does this mean in terms of how long you should plan to stay in the home?

Reference no: EM131962490

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