Suppose that a lender originates a loan for $380,000 at 4.5% for 30 years. This is a fixed rate loan that is fully amortizing with constant monthly payments. The lender charged $2,500 to the borrower in origination fees due at closing. Under the assumption that the borrower pays back the loan at the end of 5 years, computer lender's yield. Report lender's yield as a percent in the numerical box below. E.g. if lender's yield = 12.82% enter 12.82. Round your answer to 2 decimal places.?
Suppose that a lender originates a loan for $380,000 at 4.5% for 30 years. This is a fixed rate loan that is fully amortizing with constant monthly payments. The lender charged $2,500 to the borrower in origination fees due at closing. Under the assumption that the borrower pays back the loan at the end of 5 years, computer lender's yield. Report lender's yield as a percent in the numerical box below. E.g. if lender's yield = 12.82% enter 12.82. Round your answer to 2 decimal places.?
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
Problem 1PS
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Suppose that a lender originates a loan for $380,000 at 4.5% for 30 years. This is a fixed rate loan that is fully amortizing with constant monthly payments. The lender charged $2,500 to the borrower in origination fees due at closing. Under the assumption that the borrower pays back the loan at the end of 5 years, computer lender's yield. Report lender's yield as a percent in the numerical box below. E.g. if lender's yield = 12.82% enter 12.82. Round your answer to 2 decimal places.?
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