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3. Calculate the lender's yield on a constant amortization mortgage loan for $450,000 with monthly payments over 15 years at 6% interest with 1.75 points

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3. Calculate the lender's yield on a constant amortization mortgage loan for $450,000 with monthly payments over 15 years at 6% interest with 1.75 points assuming the borrower prepays the loan at the end of year 6. Using IRR Function Yield to Lender $450,000.00 6.00% 1.75% 6 Loan Amount Annual Interest Rate Discount Points Maturity (in years) Periods per year Prepayment Month Monthly Amortization Balance at EOY 6 12 72 CAM Loan Amortization Schedule Interest Principal Balance Month Payment Cash Flows 0 1 2

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