A bank has agreed to lend you $840,100 for a home loan. The loan will be fully amortized over 52 years at 10.61%, with .3 points. The loan payments will be monthly. The closing cost is estimated to be $4,542. Calculate the actuarial rate. 1.8119% 0.8918% 0.7375% O 1.7524%

A bank has agreed to lend you $840,100 for a home loan. The loan will be fully amortized over 52 years at 10.61%, with .3 points. The loan payments will be monthly. The closing cost is estimated to be $4,542. Calculate the actuarial rate. 1.8119% 0.8918% 0.7375% O 1.7524%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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Question

Vijay

A bank has agreed to lend you $840,100 for a home loan. The loan will be fully amortized
over 52 years at 10.61%, with .3 points. The loan payments will be monthly. The closing cost
is estimated to be $4,542.
Calculate the actuarial rate.
1.8119%
0.8918%
0.7375%
O 1.7524%

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