A house costs $185,000. You take out a mortgage loan and put 20 percent down on the house. The mortgage is to be paid off in exactly ten years, with monthly payments of $1737.54. What is the APR of this loan? O 6.25% 5.25%
A house costs $185,000. You take out a mortgage loan and put 20 percent down on the house. The mortgage is to be paid off in exactly ten years, with monthly payments of $1737.54. What is the APR of this loan? O 6.25% 5.25%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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![A house costs $185,000. You take out a mortgage loan and put 20
percent down on the house. The mortgage is to be paid off in exactly ten
years, with monthly payments of $1737.54. What is the APR of this
loan?
O 6.25%
O 5.25%
O 7.25%
O 8.25%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff597402e-2564-4f7b-b9db-1d8e0cc90dca%2Faab866df-2b6f-4368-85f5-a595a91a8fad%2F9e4p7h8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A house costs $185,000. You take out a mortgage loan and put 20
percent down on the house. The mortgage is to be paid off in exactly ten
years, with monthly payments of $1737.54. What is the APR of this
loan?
O 6.25%
O 5.25%
O 7.25%
O 8.25%
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