question 6

What is the $ value of the points in Question 3? Information is copied below Your mortgage broker also offers you a mortgage with 3 points and a 6.25% interest rate. You have just bought a new house for $360,000 and are taking out a mortgage for $288,000. Question 6 0/2 pts This is a new situation (ie we aren't using the data from the prior problems). You are getting a $100,000 mortgage and paying 2 points. What is the effective annual yield (in percentage) if it has 6% interest (this includes the impact of the points) and is 30 years