A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments

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A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments will be due (assuming monthly compounding). Required: a. How much will be due at the end of 10 years? b. What will be the yield to the lender if it is repaid after eight years? c. If 4 point is charged to the yield, what will be the new yield to the lender

Posted Date: May 18, 2024 11:05 AM

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A loan for $53,000 is made for 10 years at 8 percent interest and no monthly payments

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