Imagine that a 30 year mortgage loan for 100,000 was written for 3.00% APR. The...
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Imagine that a 30 year mortgage loan for 100,000 was written for 3.00% APR. The originator is able to sell the loan to yield 2.8% APR. Compute the profit from this loan. Round your answer to the nearest dollar and report it without the $ sign.
A 30 year mortgage loan for 100,000 has monthly payments of $400 each month. If a loan for 15 years for the same amount and the same interest rate were to be written the monthly payment will be:
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