Please show how to solve this in Excel using Excel formulas and please show the spreadsheet so I can understand better. Suppose Cindy borrows $300,000 at 4% for 30 years, monthly payments. The APR on the loan is 4.25%. What amount of points were charged if there was $5,000 origination cost?

Please show how to solve this in Excel using Excel formulas and please show the spreadsheet so I can understand better. Suppose Cindy borrows $300,000 at 4% for 30 years, monthly payments. The APR on the loan is 4.25%. What amount of points were charged if there was $5,000 origination cost?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Please show how to solve this in Excel using Excel formulas and please show the spreadsheet so I can understand better.

Suppose Cindy borrows $300,000 at 4% for 30 years, monthly payments. The APR on the loan is 4.25%. What amount of points were charged if there was $5,000 origination cost?

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