Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 31, 2024

what is the effective interest rate if loan terms are 30 years, 11%, 0 points, OFV, and PMI is 1/2 of 1% up front plus

what is the effective interest rate if loan terms are 30 years, 11%, 0 points, OFV, and PMI is 1/2 of 1% up front plus 1/4 of 1% paid monthly. you have a 90% LTV. Loan amount was for $90,000, the pmt is 857.09 not including the PMI.

what is the effective rate on entire balance?

effective rate on top 10%?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: E. Thomas Garman, Raymond Forgue

8th Edition

0618471421, 9780618471423

More Books

Students also viewed these Finance questions

Question

★★★★★

Outdoor Life manufactures snowboards. Its cost of making 2,000 bindings is as follows: Direct materials ..............$ 17,550 Direct labor ..............3,400 Variable overhead............ 2,040...

Answered: 1 week ago

Question

★★★★★

3. Try reframing each thought into a more accurate, fair, and positive statement.

Answered: 1 week ago

Question

★★★★★

Outline the four functions and two attitudes in Jungs psychology.

Answered: 1 week ago

Question

★★★★★

Jarriot, Inc., presented two years of data for its Furniture Division and its Houseware Division. Furniture Division: Houseware Division: Required: 1. Compute the ROI and the margin and turnover...

Answered: 1 week ago

Question

★★★★★

please help with this exercise . thanks 23. Wellington Corp. has outstanding accounts receivable totaling $1.27 million as of December 31 and sales on credit during the year of $6.4 million. There is...

Answered: 1 week ago

Question

★★★★★

Bonds issued by the Coleman Manufacturing Company have a par value of $1,000, which is also the amount of principal to be paid at maturity. The bonds are currently selling for $510. They have 10...

Answered: 1 week ago

Question

★★★★★

The number of days rain per month in London varies depending on the time of year. The data shows the number of wet days per month. 17 13 11 14 13 11 13 12 13 14 16 16 (a) For this data, find (a) (i)...

Answered: 1 week ago

Question

★★★★★

Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be related to the number of television appearances by the popular group Maroon 5 during the previous...

Answered: 1 week ago

Question

★★★★★

Write one short paragraphs about the target market segments for your client and why you think this company and product will be successful. Are there economic, social, or other trends that make this a...

Answered: 1 week ago

Question

★★★★★

Quiz Instructions: Term Structure Models II and Introduction to Credit Derivatives Questions 1 and 2 should be answered by building and calibrating a 10-period Black-Derman-Toy model for the...

Answered: 1 week ago

Question

★★★★★

a1 a2 a3 15. (23) Let A = b b2 b3 and B = = C1 4a1b1 4a2+ b2 4a3+b3 C2 C3 C1 C2 C3 3b1 3b2 3b3 If det(B) = 6, then (1) det(A) = and (4) rank(A-1) = (2) det(2ABA-) = (3) det(BBT) =

Answered: 1 week ago

Question

★★★★★

1. Analyze your work or school environment. Identify the distractions that you face on a daily basis and defend or reject their relevance to your ability to critically think, problem solve, and...

Answered: 1 week ago

Question

★★★★★

3. Do you agree that pride building can be localized throughout the organization?

Answered: 1 week ago

Question

★★★★★

3. Many times, we take the conversation away from others and make it our own. This practice not only wastes time, but is a major relationship killer. Here is how it works: At the beginning of the...

Answered: 1 week ago

Previous Question Next Question