Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. for a loan involving original principal of $245,00

For a loan involving original principal of $245,000, stated interest at 4.15%, amortization of 360...

50.1K

Verified Solution

Question

Finance

For a loan involving original principal of $245,000, stated interest at 4.15%, amortization of 360 months, 2 points and $1,200 of lender fees, what is the APR and what is the balance at the end of 180 months (half way through the life of the loan)?

A) 3.97% and $117,445

B) 4.36% and $159,383

C) 4.67% and $189,295

D) 5.33% and $155,295

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

What are the major contributions and weaknesses in Erikson's theory and give illustrative examples.

Psychology
Q

A high frequency proton scatters off of an electron. At what angle should a detector be...

Physics
Q

A tuning fork with frequency 800 Hz produces resonance in a resonance column tube with...

Physics
Q

A crooked pulley of mass M 8kg made of a uniform disk of radius R...

Physics
Q

A regular hexagon has an apothem measuring 14 cm and an approximate perimeter of 96...

Geometry
Q

Some friends who were playing darts decided to impose a 5-point penalty for each dart...

Basic Math
Q

show formulas to enter please Prepare a make or...

Accounting
Q

The objectives of management control of the manager include: a. Cost, quality, and functionality. b....

Accounting
Q

1 Normal No Spac.. Heading Styles Paragraph Item 4 of 5 20 points) Your...

Accounting
Q

On January 1, 2017, Tracey Designs, Inc., purchased a computerized blueprint printer that will assist...

Accounting
Q

Clover is expecting to get $17 one year from today, $27 two years from today,...

Finance
Q

highest-risk source of long-term capital in the view of the firm seeking funds is ____________....

Finance