Question
A botanist secures a 30-year mortgage for $517,000 at an annual interest rate of 4.275% with 1.5 points. The loan origination fee is 0.85 points
A botanist secures a 30-year mortgage for $517,000 at an annual interest rate of 4.275% with 1.5 points. The loan origination fee is 0.85 points of the loan amount. Calculate the APR (in percent) for the loan. (Round your answer to the nearest thousandth of a percent.)
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
