Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 5 Days Ago
Questions Answered: 66690
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Oct 2017 My Price 4.00

, constant monthly payment

A loan with the following terms is being made: Fixed rate, constant monthly payment. Closing date February 9th. 9% interest rate. Prepaid interest due at closing. $70,000 mortgage loan amount. $1,500 loan discount points to be paid by the buyer/borrower to the lender. 25-year term, monthly payments, fully amortizing.

 

a. Calculate the APR for federal truth-in-lending purposes.

b. Do you think that the APR calculated in (a) reflects the likely return that the lender will receive over the term of the loan? List specific reasons that the lender’s actual return might be different from the APR.

 

 

 
 

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Oct 2017 05:10 PM My Price 4.00

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