Question: Please explain your answer step by step in terms of financial calculator!! 1. Given the following information, calculate the lender's yield. Loan amount: $166,950, Term:

Please explain your answer step by step in terms of financial calculator!!

1. Given the following information, calculate the lender's yield. Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Payment: $1,225.00, Discount points: 2

2. Given the following information, calculate the effective borrowing cost (EBC). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Payment: $1,225.00, Discount points: 2, Other Closing Expenses: $3,611.

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