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What is the lender's yield (solve for i) on a $225,000 loan at 11% with monthly payments over 25 years if 3 points are charged
What is the lender's yield (solve for "i") on a $225,000 loan at 11% with monthly payments over 25 years if 3 points are charged at origination and the loan is fully amortized?
1. | 11.42% | |
2. | 10.38% | |
3. | 12.01% | |
4. | 10.66% |
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