Part III: Loan comparison Consider the following loan information. term loan A 180 loan B 180 months amt $375,000 $375,000 rate 6.0% 7.0% points 3% 1% prepay 2% 1% 7. Calculate the loan payments and APR for each loan. 8 Create a spreadsheet & chart which compares the effective cost of borrowing (EBC) under Loan A vs. Loan B for each year of loan repayment.

Part III: Loan comparison Consider the following loan information. term loan A 180 loan B 180 months amt $375,000 $375,000 rate 6.0% 7.0% points 3% 1% prepay 2% 1% 7. Calculate the loan payments and APR for each loan. 8 Create a spreadsheet & chart which compares the effective cost of borrowing (EBC) under Loan A vs. Loan B for each year of loan repayment.

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 5FPE

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