Multiple Choice
Given the following information about a fully amortizing loan, calculate the lender's yield (rounded to the nearest tenth of a percent) . Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2.
A) 7.7%
B) 8.0%
C) 8.2 %
D) 10.0 %
Correct Answer:
Verified
Correct Answer:
Verified
Q13: You have taken out a $225,000, 3/1
Q14: You have taken out a $300,000, one-year
Q15: When lenders charge discount points (prepaid interest)
Q16: Given the following information on a 30-year
Q17: Suppose a potential home buyer is interested
Q19: Suppose you have taken out a $400,000
Q20: From the borrower's perspective, the effective borrowing
Q21: Partially amortizing mortgage loans require periodic payments
Q22: You have taken out a $350,000, 3/1
Q23: Let's assume that you have just taken