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You want to buy a $180000 home. You plan to pay $36000 as a down payment, and take out a 15 year loan at 3.5%
You want to buy a $180000 home. You plan to pay $36000 as a down payment, and take out a 15 year loan at 3.5% interest for the rest.
a) What is the amount of the payment?
$
b) If the bank charges 3.5 points on the loan, what is the amount charged for points?
$
c) If the bank charges 3.5 points on the loan, what is the true interest rate?
a) What is the amount of the payment?
$
b) If the bank charges 3.5 points on the loan, what is the amount charged for points?
$
c) If the bank charges 3.5 points on the loan, what is the true interest rate?
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Sport Funding And Finance
Authors: Bob Stewart
2nd Edition
041583984X, 978-0415839846
