Question: Moving to allouer quesUI WII Saveus response. 150f18S 16 points save THIS QUESTION HAS FOUR PROBLEMS. PLEASE SELECT FOUR ANSWERS FOR FULL POINTS. OTHERWISE, YOU

150f18S 16 points save THIS QUESTION HAS FOUR PROBLEMS. PLEASE SELECT FOUR

ANSWERS FOR FULL POINTS. OTHERWISE, YOU WILL RECEIVE PARTIAL POINTS. You just

Moving to allouer quesUI WII Saveus response.

150f18S 16 points save THIS QUESTION HAS FOUR PROBLEMS. PLEASE SELECT FOUR ANSWERS FOR FULL POINTS. OTHERWISE, YOU WILL RECEIVE PARTIAL POINTS. You just acquired a mortgage in the amount of $500,000 at 0.25% per month interest. Equal payments are to be made at the end of each month for 1 S years. What is the annual percentage (APR) on this loan? *hint: first you will need tofind total interest payments from the original/oanschedu/e What is the effective annual rate (EAR) on this loan? #3. If you paid SISO extra each month, how much can you save in interest payments compared to the original loan schedule? And how much can you save in time? That is, by paying extra SISO extra each month, how many years faster can you finish paying your mortgage? *I-APR. 4.2% 9

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