Assume the following: Loan Amount:.............$100,000 Interest rate:.................10 percent annually Term:.............................15 years, monthly payments a. What is the
Question:
Assume the following:
Loan Amount:.............$100,000
Interest rate:.................10 percent annually
Term:.............................15 years, monthly payments
a. What is the monthly payment?
b. What will be the loan balance at the end of nine years?
c. What is the effective borrowing cost on the loan if the lender charges 3 points at origination and the loan goes to maturity?
d. What is the effective borrowing cost on the loan if the lender charges 3 points at origination and the loan is prepaid at the end of year 9?
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a The monthly payment is 1074605 b The loan balance at the end of 9 years ...View the full answer
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Rustia Melrod
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The Common Core standards are a useful yardstick for measuring how well students are doing. My students consistently met or exceeded the Common Core standards for science. I believe in working with each student's individual learning styles to help them understand the material. If students were struggling with a concept, I would figure out a different way to teach or apply that concept. I was voted Teacher of the Year six times in my career. I also won an award for Innovative Teaching Style at the 2011 National Teaching Conference.
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Related Book For 
Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
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