Question
A lender offers you a fixed-rate mortgage for $430,000 at 6.750% for 26 years with 4.75 discount points due at closing (monthly payments and monthly
A lender offers you a fixed-rate mortgage for $430,000 at 6.750% for 26 years with 4.75 discount points due at closing (monthly payments and monthly compounding). If you prepay the loan at the end of year ten (10), what is the effective borrowing cost of the loan?
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Corporate Finance Investment And Advisory Applications
Authors: Jesse McDougall, Patrick Boyle
1st Edition
1530116597, 9781530116591
