A borrower has a $224,000, 30-year fixed-rate mortgage at 6.25%, with monthly payments. It is now the end of month 36. The borrower can refinance the outstanding balance into a new 30-year loan at 5.25%, with costs of 2% of the new loan amount. The borrower expects to remain in the home six more years. (2 points) Should the borrower refinance?
Read DetailsPart B: Literary Exploration In this story, the author describes an old man who is very set in his ways, unwilling to change. His son challenges, and changes, his father’s outlook, perhaps even more than he intended. WHAT IS YOUR OPINION OF THE IDEA, THAT A SINGLE ACTION CAN LEAD TO SIGNIFICANT CHANGE? Support and develop your controlling or main idea with reference to specific detail from the reading. Organize your composition so that your ideas are clearly, effectively, and coherently presented. Your response will be marked out of 25 using the Literary Exploration Scoring Criteria. ** When you finish your essay, click the “Submit Quiz” button to proceed and complete your exam submission. After that, please log out of your account and leave the exam room quietly. **
Read DetailsPART A Question 5 – Answer in one to three sentences. Explain the significance of the last line of the story: “For long months, behind his big black mustache and his closed eyes, old Herménéguild waited for the long black car to return.” (Lines 69-70)
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