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How much should they expect to pay in prepaid interest at the closing? Hint: 1. Count the number of days from March 12 until the last day in March. 2. Multiple the number of days by your previous answer.

How much should they expect to pay in prepaid interest at the closing? Hint: 1. Count the number of days from March 12 until the last day in March. 2. Multiple the number of days by your previous answer.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Liz and Nick are buying a $725,000 home. They have been approved for a 3.25% APR, 30-year mortgage. They made a 20% down payment and will be closing on March 11. How much should they expect to pay in prepaid interest at the closing?
How much should they expect to pay in prepaid interest at the closing? Hint: 1. Count the number of days from March 12 until the last day in March. 2. Multiple the number of days by your previous answer.
Transcribed Image Text:How much should they expect to pay in prepaid interest at the closing? Hint: 1. Count the number of days from March 12 until the last day in March. 2. Multiple the number of days by your previous answer.
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