Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

basically i just need a clear breakdown of how he got each answer, points a,b,and c you got a 8% OFV 95,000 30 YR loan

basically i just need a clear breakdown of how he got each answer, points a,b,and c

image text in transcribed

you got a 8% OFV 95,000 30 YR loan with monthly payments....

S el The next three points are effective interest rate problems. If the answer is 11.47% then you may answer either .1147 or 11.47%. You must answer with 4 numbers ie, places). You got a 8% OFV, $00030 loanwith payments. What would be the rate effective interest 95,, years , monthly on the 8% loan with the following additional loan features? Prnt a fl 97, OK ste a. You paid 3 points, there was no prepayment penalty (PPP), and you paid the loan off at the end of the 10th year 8.4 2 26 Boyo A 23, 338 b. You paid 3 points, there was a 26,PPP, and you paid the loan off at the end of the 10th year c. You paid 3 points, there was a 2% PPP, and you did not pay off the loan early ,2 95, EID - 3 Pt = 95, or C, 9792, 150 A v Poss Unt + Rem Bol

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Capital Market Finance

Authors: Patrice Poncet, Roland Portait, Igor Toder

1st Edition

ISBN: 3030845982, 978-3030845988

More Books

Students also viewed these Finance questions

Question

Explain the importance of nonverbal messages.

Answered: 1 week ago

Question

Describe the advantages of effective listening.

Answered: 1 week ago

Question

Prepare an employment application.

Answered: 1 week ago