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The outstanding loan balance is $156,300 after the July1 payment has been made. Prorate the interest, using a calendar year, for a July 19 closing.
The outstanding loan balance is $156,300 after the July1 payment has been made. Prorate the interest, using a calendar year, for a July 19 closing. The loan is a 5.0%, 30-year loan, and the contract calls for the proration to be to the day of closing
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Bond Markets Analysis And Strategies
Authors: Frank J. Fabozzi, Francesco A. Fabozzi
10th Edition
026204627X, 978-0253337535
