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Q4. You have obtained a $135,000, 6.5%, 30-year mortgage a) Monthly Payment = 853.29 b)Principal in 3 rd month=...

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Q4. You have obtained a $135,000, 6.5%, 30-year mortgage a) Monthly Payment- 853.29 b)Principal in 3 rd month 123.37 c) Inter

If your bank charged you 2.5 points to obtain this loan, and you keep it for 30 years, what yield (APR) will the bank earn? w



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Q4. You have obtained a $135,000, 6.5%, 30-year mortgage a) Monthly Payment = 853.29 b)Principal in 3 rd month= 123.37 c) Interest in 3rd month = 729.92 d) Principal paid in 3rd year of mortgage = 147.44 e) Interest paid in 3rd year of mortgage = 705.85 PLEASE ANSWER THE FOLLOWING QUESTIONS USING DATA GIVEN AND SHOW ALL WORK. If your bank charged you 2.5 points to obtain this loan, and you keep it for 30 years, what yield (APR) will the bank earn? What will the Federal Truth in Lending APR be (Hint: Round to the nearest 1/8%)? If you must pay $850 in other fees to close this loan, what is the cost to you of this loan (expressed as an APR), assuming you keep the loan for 30 years? If you keep the loan only 3 years, what will the lender yield be (APR)? If you keep the loan 3 years, what will your Effective Borrowing Cost be (APR)? tout

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a Monthly Payment You ve provided the correct monthly payment of 853 29 b Principal in 3rd Month You ve provided the correct principal payment in the 3rd month which is 123 37 c Interest in 3rd Month View the full answer


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Foundations in Microbiology

Foundations in Microbiology

ISBN: 978-0073375298

8th edition

Authors: Kathleen Park Talaro, Barry Chess

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