A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of 6% plus

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A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of 6% plus 4 points. What is the effective annual interest rate on the loan if the loan is carried for all 30 years?

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Real Estate Finance and Investments

ISBN: 978-0073377339

14th edition

Authors: William Brueggeman, Jeffrey Fisher

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Posted Date: Apr 24, 2024 08:09 AM

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A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of 6% plus

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To calculate the effective annual interest rate on the loan we need to consider the impact of the po... View the full answer

Real Estate Finance and Investments

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