Question
1. For a $100,000 loan at an 8 percent nominal interest rate, with monthly payments and a 25-year term, how many points would the lender
1. For a $100,000 loan at an 8 percent nominal interest rate, with monthly
payments and a 25-year term, how many points would the lender need to
charge to increase the effective yield to 8.75 percent if the loan is outstanding to
maturity?
Note: Utilize T-Bars to get answer
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Financial Management Theory And Practice
Authors: Eugene F. Brigham, Michael C. Ehrhardt
10th Edition
0030329922, 9780030329920
