Question
You have obtained a home loan for $175,000 over 30 years at a rate of 5.2% with annual payments. In addition to your regular payments,
| You have obtained a home loan for $175,000 over 30 years at a rate of 5.2% with annual payments. In addition to your regular payments, you must pay a one-time loan origination fee equal to 2.5% of the loan amount immediately. After considering the origination fee, what is the true annual interest rate for the loan? |
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The Meaningful Money Handbook
Authors: Pete Matthew
1st Edition
0857196510, 978-0857196514
