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Wells Fargo gives you an offer of $450,000 at a mortgage rate 5.5%, compounded quarterly. Citi Bank offers you a loan of $550,000 as well,
Wells Fargo gives you an offer of $450,000 at a mortgage rate 5.5%, compounded quarterly. Citi Bank offers you a loan of $550,000 as well, the mortgage rate is 5%, compounded monthly. please calculate the difference of the EAR charged by these two banks.
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The 30 Minute Stock Trader
Authors: Laurens Bensdorp
1st Edition
1619615738, 978-1619615731
