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A bank offers 30-year, $250,000 mortgages at 6.1 percent and charges a $4,100 refundable loan application fee. The current disclosure law requires that any
A bank offers 30-year, $250,000 mortgages at 6.1 percent and charges a $4,100 refundable loan application fee. The current disclosure law requires that any fees that will be refunded if the applicant is rejected be included in calculating the APR. What is the APR that they are required to disclose? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) Insecurity Bank and Trust (Refundable) APR
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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
5th edition
1259289907, 978-1259289903
