57.6 months would be taken
Explanation:
Firstly, there is need to find out that by how much in dollars would be paid in the points. Then, divide the amount of points paid by the difference in the monthly payments. Then this will give the outcome of the breakeven number of months.
The following calculation is done in order to find out.
$100,000 multiply with .01 = $1,000 paid in points.
$733.76 minus $716.41 = $17.35 difference in payments.
$1,000 divided by $17.35 = 57.6 months.
Therefore, the answer is 57.6.
