Question: Please solve and show each step you do to on a financial calculator! 1. A borrower is evaluating a loan $100,000 with annual rate of
Please solve and show each step you do to on a financial calculator!
1. A borrower is evaluating a loan $100,000 with annual rate of interest at 12%. He anticipates making monthly payments of $2,100 then a lump sum payment of $10,000. How long is he expecting to be paying this loan (rounded to the nearest number years / months)? Draw your cash flow diagram and show your steps used in financial calculator.
2. Given the following information about a fully amortizing loan, calculate the lender's yield (rounded to the nearest tenth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 3. Draw your cash flow diagram and show your steps used in financial calculator.
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