Question
A loan for $250,000 is made for 15 years at 6 percent annual interest. The lender and borrower agree that payments will be made monthly.
A loan for $250,000 is made for 15 years at 6 percent annual interest. The lender and borrower agree that payments will be made monthly. Assuming three discount points are charged by the lender and the borrower will keep the loan outstanding to maturity, what will be the lender's yield?
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Sales Management Demystified A Self Teaching Guide
Authors: Robert Calvin
1st Edition
0071486542, 9780071486545
