Question
What is the monthly interest rate of a $300,000 30-year FRM Loan that fully amortizes with a contract interest rate of 5.25% and $4,102 in
What is the monthly interest rate of a $300,000 30-year FRM Loan that fully amortizes with a contract interest rate of 5.25% and $4,102 in origination fees disclosed by the lender to the borrower if the borrower plans to prepay after 3 years? Please indicate your answer as percent with 2 digits right of the decimal (e.g., 0.0644 --> 6.44) and do NOT input the percent sign (%).
What is the monthly payment?
What is the annualized percentage rate (APR) if the borrower plans to prepay after 53 payments? Please indicate your answer as annualized percent with 2 digits right of the decimal
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