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please tell me how to provide an excel spread sheet for this problem Complete/answer each of the following problems providing an Excel spreadsheet with the
please tell me how to provide an excel spread sheet for this problem
Complete/answer each of the following problems providing an Excel spreadsheet with the solution to receive full credit. For example, create the loan amortization table for each of the problems. 1. David wants to uy a property for $200,000 and wants an 80% loan. A lender offers a 30 year fully amortizing loan at 6% interest; however, a loan fee of $3,000 will also be needed for David to obtain the loan. a. How much will the lender actually disburse? b. Wat is the APR and the EAR for the borrower, assuming that the mortgage is paid off after 30 years (full term)? c. If David pays off the loan after five years, what is the effective interest rate (EAR)? d. Assume that the lender imposes a prepayment penalty of 2% of the outstanding loan balance if the loan is repaid within eight years of closing. If David repays the loan after five years with the prepayment penalty, what is the effective interest rate (EAR) Step by Step Solution
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