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Find monthly payment, monthly effective rate, total payments and total interest? Mortgage amount: Term in years: Interest rate: 100,000.00 1 8.00% Monthly Payment: 8,698.84 Origination
Find monthly payment, monthly effective rate, total payments and total interest?
Mortgage amount: Term in years: Interest rate: 100,000.00 1 8.00% Monthly Payment: 8,698.84 Origination fee percent: Points paid: Other fees to include: Closing Costs: 2,100.00 1.000% 0.500% 600.00 12 = Number of months 0.667% = Monthly effective rate 11.4958 = PV of annuity immediate 102,100.00 = Loan plus closing costs 8,698.87 = Final Payment 104,386 = Check on Total PaymentsStep by Step Solution
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