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Given the following information about a fully amortized loan, calculate the lenders yield (rounded to the nearest tenth of a percent) if the loan were
Given the following information about a fully amortized loan, calculate the lenders yield (rounded to the nearest tenth of a percent) if the loan were to be paid off in 4 years.
Loan amount: $568,000
Term: 30 years
Interest rate: 8.23 %
Monthly Payment: $4,259
Discount points: 1.5
3rd Party Costs: $7,500
8.60% | ||
7.80% | ||
8.70% | ||
8.50% |
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