Question: Please show work on-hand, not excel Problem 1: (4 points) You get a 15 year, 3.5% fixed-rate mortgage with one point, borrowing $300,000. a. what

Please show work on-hand, not excel Problem 1: (4 points) You

Please show work on-hand, not excel

Problem 1: (4 points) You get a 15 year, 3.5\% fixed-rate mortgage with one point, borrowing $300,000. a. what are your initial payments? b. what is the loan's APR? c. suppose you prepay after 5 years, what is the outstanding loan balance? d. if you do prepay after 5 years, what is the effective annual rate

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