You have a customer who has a 620 fico score and their preferred product requires you to add 1/8th percent to the interest rate of 6 3/4% (30 year fixed rate). What is the P&I payment for this customer if they are putting 10% down on a sales price of $195,000? a. $1,152.91 b. $1,109.28 c. $1,138.29 d. $1,167.61
You have a customer who has a 620 fico score and their preferred product requires you to add 1/8th percent to the interest rate of 6 3/4% (30 year fixed rate). What is the P&I payment for this customer if they are putting 10% down on a sales price of $195,000? a. $1,152.91 b. $1,109.28 c. $1,138.29 d. $1,167.61
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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Question: You have a customer who has a 620 fico score and their preferred product requires you to add 1/8th percent to the interest rate of 6 3/4% (30 year fixed rate). What is the P&I payment for this customer if they are putting 10% down on a sales price of $195,000?
a. $1,152.91
b. $1,109.28
c. $1,138.29
d. $1,167.61
Please answer with explanation
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Transcribed Image Text:Question
You have a customer who has a 620 FICO score and their preferred product requires you to add 1/8th percent to the interest rate of 6 3/4% (30-year fixed-rate)
is the P&l payment for this customer if they are putting 10% down on a sales price of $195,0007
Choices:
$1.152.01
$1.100 28
$1.13 29
$1,167 61
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