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The Robinsons need $210,000 for a 30-year home loan. The lender charges 2 points on the loan. a. What is the face value of the
The Robinsons need $210,000 for a 30-year home loan. The lender charges 2 points on the loan.
a. What is the face value of the loan?
b. If the monthly payment is $1325.24, what is the effective interest rate for this loan? Round to the nearest .1%.
(show the equation you used and at least three trial values.)
you can solve it with the calculator but I need to how you got the answer. please no excel
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