Question
A borrower takes out a 30-year, fully amortizingmortgage loan for $150,000 with an interest rate of 5% plus 2 discount points. What is the effective
A borrower takes out a 30-year, fully amortizingmortgage loan for $150,000 with an interest rate of 5% plus 2 discount points. What is the effective annual interest rate on the loan if the loan is carried for all 30 years?
5.18%
6.0%
6.4%
5.34%
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MATLAB An Introduction With Applications
Authors: Amos Gilat
6th Edition
111938513X, 978-1119385134
