14) You take out a $2.75 million 20-year mortgage at 12%. If you bought 9 points what is the lender yield?

15) You take out a $2.75 million 20-year mortgage at 12%. If you bought 10 points and are responsible for $85,000 in closing cost what is your effective borrowing costs?

16) You take out a 5-year $2.75 million mortgage with a 20-year amortization at 12%. If you bought 10 points and are responsible for $85,000 in closing cost what is your payments?