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For originating the loan detailed below, you agree to pay the lender 1.5 points. What is the APR of the loan? A lender is offering

For originating the loan detailed below, you agree to pay the lender 1.5 points. What is the APR of the loan?

A lender is offering you a $300,000 30Y FRM loan 7.2%. You solve for the payment by entering:

PV=300,000
i=7.2/12
N=30x12=360
FV=0 (b/c fully amortizes)
PMT= $2,036.36

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