Question: Hi everyone - please complete the problem below, and submit on HuskyCT, by 1 0 : 0 0 am on Monday 9 / 1 6

Hi everyone- please complete the problem below, and submit on HuskyCT, by 10:00 am on Monday 9/16/24:
Consider a $250,000 commercial property, 80% LTV with a 30 year term on the mortgage, 8% interest on the mortgage, and 3 points due at closing.
a. What is the monthly payment on this loan?
b. what is the amount received after the points are paid?
c. What is the effective interest rate?

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