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The bank offered Annette a $380,000, 30-year mortgage at 3.54%.
She is deciding whether to purchase 2 points to reduce her APR by 0.25% per point. Each point will cost 1% of the loan value.
a. Calculate her monthly payments with the points.
b. Calculate her monthly payments without the points.
$
c. Determine the breakeven months. (Round up to the nearest whole month)
months



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