Question
Ann gets a fully amortizing 30 year fixed rate mortgage with monthly payments for $1,000,000. If the annual interest rate is 3.25%, compounded monthly, and
"Ann gets a fully amortizing 30 year fixed rate mortgage with monthly payments for $1,000,000. If the annual interest rate is 3.25%, compounded monthly, and Ann must pay 1.75 points in closing costs, what will Ann s true APR be? (make sure your answer is annualized)"
| 0.28% | ||
| 1.75% | ||
| 3.25% | ||
| 3.39% |
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Banking And Beyond The Evolution Of Financing Along Traditional And Alternative Avenues
Authors: Caterina Cruciani, Gloria Gardenal , Elisa Cavezzali
1st Edition
3030457516,3030457524
