Question
A bank has agreed to lend you $524,000 for a home loan. The loan will be fully amortized over 40 years at 5.33%, with .58
A bank has agreed to lend you $524,000 for a home loan. The loan will be fully amortized over 40 years at 5.33%, with .58 points. The loan payments will be monthly. The closing cost is estimated to be $2,579 and you plan to refinance the mortgage in 6 years.
Calculate the APR.
| 6.3463% | ||
| 6.0924% | ||
| 5.6841% | ||
| 6.9043% | ||
| None of the answers are correct |
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The Pricing Strategy Audit
Authors: Kent B. Monroe
1st Edition
1907766006, 978-1907766008
