A borrower takes out a 15 year interest only mortgage loan for $325,000 at a fixed interest rate of 6.5%. What is the total cost
A borrower takes out a 15 year interest only mortgage loan for $325,000 at a fixed interest rate of 6.5%. What is the total cost of the loan? a. $659.468.44 b. $583,458.60 c. $641,875.00 d. $449,468.68 If the loan in the question above is a fully amortizing capital repayment loan how much would the borrower save over the lifetime of the loan? a. $132,277.19 b. $214,238.91 c. $81,548.54 d. $169,157.31
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Authors: CFP Board
2nd Edition
1119094968, 978-1119094968
