Calculate the loan principal.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EB: You put $600 in the bank for 3 years at 15%. A. If Interest Is added at the end of the year, how...
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A bank has agreed to lend you $127,800 for a home loan.
The loan will be fully amortized over 57 years at 12.98%,
with .13 points. The loan payments will be monthly. The
closing cost is estimated to be $2,168.
Calculate the loan principal.
$130,063.66
$130.137.18
$130,181.52
$130,144.37
None of the answers are correct
Transcribed Image Text:A bank has agreed to lend you $127,800 for a home loan. The loan will be fully amortized over 57 years at 12.98%, with .13 points. The loan payments will be monthly. The closing cost is estimated to be $2,168. Calculate the loan principal. $130,063.66 $130.137.18 $130,181.52 $130,144.37 None of the answers are correct
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