Item Loan Amont Contractual Rate Conversion Periods Life of Loan (years) Method of Payment Closing Costs...

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Item Loan Amont Contractual Rate Conversion Periods Life of Loan (years) Method of Payment Closing Costs Points (i) (iv) Calculate the amount of loan payments of Bank A. $2,154.61 $2,116.25 a. $2,212.37 $2,162.33 e. None of the answers are correct C. a. Enter Response Here: (ii) Calculate the amount of loan payments of Bank B. $2,152.54 $2,247.25 C. Enter Response Here: Bank A (1) $221,700.00 (2) 10.80% (3) 12 (4) 27 (5) Fully Amort. (6) $3,051 (7) 0.67 b. d. $2,129.79 e. None of the answers are correct a. C. a. C. b. d. Calculate the actuarial rate of Bank B. 1.6727% b. 1.6489% a. C. d. $2,155.70 0.9212% Calculate the APR of Bank A. 11.4385% b. 10.1002% d. 0.7771% e. None of the answers are correct Enter Response Here: (v) Calculate the APR of Bank B. 11.7153% 10.5058% Bank B $221,700.00 10.62% 12 27 Fully Amort. $3,051 1.93 b. d. e. None of the answers are correct Enter Response Here: (vi) Which bank would you choose? a. A b. B 11.0665% 12.0613% 11.0539% 12.0077% Item Loan Amont Contractual Rate Conversion Periods Life of Loan (years) Method of Payment Closing Costs Points (i) (iv) Calculate the amount of loan payments of Bank A. $2,154.61 $2,116.25 a. $2,212.37 $2,162.33 e. None of the answers are correct C. a. Enter Response Here: (ii) Calculate the amount of loan payments of Bank B. $2,152.54 $2,247.25 C. Enter Response Here: Bank A (1) $221,700.00 (2) 10.80% (3) 12 (4) 27 (5) Fully Amort. (6) $3,051 (7) 0.67 b. d. $2,129.79 e. None of the answers are correct a. C. a. C. b. d. Calculate the actuarial rate of Bank B. 1.6727% b. 1.6489% a. C. d. $2,155.70 0.9212% Calculate the APR of Bank A. 11.4385% b. 10.1002% d. 0.7771% e. None of the answers are correct Enter Response Here: (v) Calculate the APR of Bank B. 11.7153% 10.5058% Bank B $221,700.00 10.62% 12 27 Fully Amort. $3,051 1.93 b. d. e. None of the answers are correct Enter Response Here: (vi) Which bank would you choose? a. A b. B 11.0665% 12.0613% 11.0539% 12.0077%

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The image youve provided contains data regarding two loan options from Bank A and Bank B and subsequent questions that ask for calculations based on t... View the full answer