Given the following information about a fully amortizing loan, calculate the lenders yield (rounded to the nearest hundredth of a percent). Loan amount: $166,950, Term: 30 years, Interest rate: 3 %, Monthly Payment: $703.87, Discount points: 2.

Suppose you plan to payoff the mortgage in Problem 3 in 10 years. What would the lenders yield be if the loan is repaid early. (Hint: Calculate loan balance at end of 10 year (120 payments). Balance = 126,914.74. (2nd Hint: set N = 120, FV = -126,914.74, PV = 163,611.00) the answer is 3.26% but need the work below

N =_________ I/Y = ___________ PV = _________________ PMT = _______________ FV = __________________ P/Y = __________

bold is the answer i need