Order the answer to: A mortgage banker is originating a level-payment mortgage with t

Academic Writing business-economics Order the answer to: A mortgage banker is originating a level-payment mortgage with t

business-economics

Order the answer to: A mortgage banker is originating a level-payment mortgage with t

Question A mortgage banker is originating a level-payment mortgage with the following terms: Annual interest rate: ………………….. 9 percent Loan term: ………………………………. 15 years Payment frequency: ………………….. monthly Loan amount: ………………………….. $160,000 Total up-front financing costs (including discount points): …. $4,000 Discount points to lender: …………….. $2,000 a. Calculate the annual percentage rate (APR) for Truth-in-Lending purposes. b. Calculate the lender’s yield with no prepayment. c. Calculate the lender’s yield with prepayment is five years. d. Calculate the effective borrowing costs with prepayment in five years.
Subject business-economics
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