Question: Please respond with Excel Functions Suppose that you are considering a loan in which you will borrow $250,000 using a 30-year loan. The loan has

Please respond with Excel Functions

Suppose that you are considering a loan in which you will borrow $250,000 using a 30-year loan. The loan has an annual interest rate of 4.17% with monthly payments and monthly compounding. Suppose also that the lender is charging you a 0.75% origination fee, you are paying 0.5 points in order to get the 4.17% interest rate, and the loan has $600 in third-party closing costs associated with it.

What will the effective borrowing cost be for this loan if you make all of the scheduled payments?
What will the lenders yield be for this loan if you make all of the scheduled payments?
What will the effective borrowing cost be for this loan if you pay off the loan at the end of the 6th year?

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