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The loan is for $150,000, points and other bank fees total $1,200. The rate is 6% for 30 years (monthly). Now, assume a prepayment penalty
The loan is for $150,000, points and other bank fees total $1,200. The rate is 6% for 30 years (monthly).
- Now, assume a prepayment penalty of $600 when calculating the effective-interest cost to the borrower after 12 years have lapsed. Effective-Interest Cost or Internal Rate of Return for the lender:
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Master The Art Of House Flipping
Authors: Livia V. Velez
1st Edition
979-8865806561
