The borrower plans to own the property for the entire loan term.

Required:

a$.$ What is the incremental cost of borrowing the additional funds? $($Hint$.$ The dollar amount of the loan does not affect the answer.$)$

b$.$ What is the incremental cost of borrowing the additional funds if $2$ points were charged on the $90$ percent loan?

c$.$ What is the incremental cost of borrowing the additional funds if $2$ points were charged on the $90$ percent loan and the borrower planned to own the property fors five

Complete this question by entering your answers in the tabs below.

What is the incremental cost of borrowing the additional funds? $($Hint: The dollar amount of the loan does not affect the answer.$)$

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places.