your given the following information about a home loan: loan amount 300000 number of years 25 years interest rate per year 7% point charges 3% If the loan is paid off after 6 years what will be the APR and IRR earned by the bank? Whay is the monthy payment for the loan? What will be the loan balance after 6 years?
your given the following information about a home loan: loan amount 300000 number of years 25 years interest rate per year 7% point charges 3% If the loan is paid off after 6 years what will be the APR and IRR earned by the bank? Whay is the monthy payment for the loan? What will be the loan balance after 6 years?
Related questions
Question
6
Transcribed Image Text:your given the following information about
a home loan: loan amount 300000 number
of years 25 years interest rate per year 7%
point charges 3%
If the loan is paid off after 6 years what will
be the APR and IRR earned by the bank?
Whay is the monthy payment for the loan?
What will be the loan balance after 6 years?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps with 1 images
