Determine the following, explain your steps. As part of the loan closing does the lender need...
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Determine the following, explain your steps. As part of the loan closing does the lender need to collect any interest? If so, from whom? And if so, what amount? Given: Loan amount $450,000 Note rate: 4.250% Monthly P&I payment amount: $2,213.73 Loan First Payment due date: 7/1/2021 (pays interest 6/1 through 6/30) Loan close date: 5/16/2021 Determine the following, explain your steps. As part of the loan closing does the lender need to collect any interest? If so, from whom? And if so, what amount? Given: Loan amount $450,000 Note rate: 4.250% Monthly P&I payment amount: $2,213.73 Loan First Payment due date: 7/1/2021 (pays interest 6/1 through 6/30) Loan close date: 5/16/2021
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To determine if the lender needs to collect any interest as part of the loan closing we need to cons... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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