A borrower is offered a mortgage loan for $100,000 with an interest rate of 10% and a 30-year amortization period with monthly payments. The lender charges three points at origination. What is the effective interest rate?

You are buying a $162,000 house with a 20% down payment and a fixed-rate mortgage for the remainder at 8.75% for 30 years with monthly payments. What is the balance or amount outstanding on the loan at the end of the fourth year?

i have a financial calculator, i just need help on how to solve it with that.