FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

if a mortgage carries an annual interest rate of 6.5% and requires the payment of five points in order to be acceptable to a lender,

if a mortgage carries an annual interest rate of 6.5% and requires the payment of five points in order to be acceptable to a lender, what is the approximate yield of this loan to the lender?

A. 7.13

B 7.75

C 6.55

D 11.50

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

Global Corporate Finance A Focused Approach

Global Corporate Finance A Focused Approach

Authors: Kenneth Kim, Suk Kim

3rd Edition

9811207119, 9789811207112

More Books

Students also viewed these Finance questions

Question

★★★★★
Construct a 3 3 nonsingular matrix and call it A. Then, for each entry of the matrix, compute the corresponding cofactor, and create a new 3 3 matrix full of these cofactors by placing the cofactor...

Answered: 1 week ago

Question

★★★★★
The article Feasting on Protein (AARP Bulletin, September 2009) gave the cost per gram of protein for 19 common food sources of protein. Food Cost (cents per gram of protein) Chicken 1.8 Salmon 5.8...

Answered: 1 week ago

Question

★★★★★
Suppose the production possibility frontier for cheeseburgers (C) and milkshakes (M) is given by C + 2M = 600 a. Graph this function. b. Assuming that people prefer to eat two cheeseburgers with...

Answered: 1 week ago

Question

★★★★★
Self-Construction Olson Machine Company manufactures small and large milling machines. Selling prices of these machines range from $35,000 to $200,000. During the 5-month period from August 1, 2016,...

Answered: 1 week ago

Question

★★★★★
Imprudential, lnc., has an unfunded pension liability of $900 million that must be paid in 15 years. To assess the value of the firm's stock, financial analysts want to discount this liability back...

Answered: 1 week ago

Question

★★★★★
What steps normally comprise the critical path on a Gantt Chart?(LO5.2)

Answered: 1 week ago

Question

★★★★★
QUESTION 5 10 points Save Answer It is believed that the weight of the crystal (Y) (in grams) is linearly related to the hours (X) it is allowed to form. A sample of 14 crystals is taken with the...

Answered: 1 week ago

Question

★★★★★
Question 2 Assuming you are the project procurement manager for Mainstream Renewable Power, write a letter to the Department of Minerals and Energy (the client and initiator of the projects)...

Answered: 1 week ago

Question

★★★★★
Find f?(x) for the following and factor the answer completely, if possible: 3. f(x) = (1 x) In (sin 3x) 3) 4. f(x)= = 3x+1 (2x-1)5 4) 2

Answered: 1 week ago

Question

★★★★★
(a) A machine is set up such that the average content of juice per bottle equals . A sample of 100 bottles yields an average content of 270ml. Assume that the population standard deviation 45ml. Find...

Answered: 1 week ago

Question

★★★★★
Discuss three more specific examples of what you believe this second banks HR department could have done to improve the reps performance.

Answered: 1 week ago

Question

★★★★★
3. What would you do now if you were Fisher Central Steel Door Corporation has been in business for about 20 years, successfully selling a line of steel indus-trial-grade doors as well as the...

Answered: 1 week ago

Question

★★★★★
1. Based on this chapter and the case incident, com-pile a list of 10 international HR mistakes Fisher has made so far. Central Steel Door Corporation has been in business for about 20 years,...

Answered: 1 week ago

Previous Question Next Question