Question
Mr. and Mrs. Smith are closing on a home on January 10, 2011. The sales price of the home is $450,250, and the lender has
Mr. and Mrs. Smith are closing on a home on January 10, 2011. The sales price of the home is $450,250, and the lender has approved them for a 90% L'TV. The Smith's 15-year fixed-rate mortgage loan has an interest rate of 5.00%. How much pre-paid interest must the Smith's pay at closing, assuming a 360-day calendar year?
A.$1,220.56 B.$1,238.19 C.$1,743.75 D.$1,181.25
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Stock Market Investing For Beginners
Authors: Andrew P.C.
1st Edition
1549522132, 978-1549522130
