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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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M7

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?
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