Question

If a $95,000 home loan is obtained for 20 years at 5.4% interest the monthly payment...

If a $95,000 home loan is obtained for 20 years at 5.4% interest the monthly payment is $648.14. If the lender charges 2 points, what is the effective interest rate?

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Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

SOLVED WITH BA II PLUS CALCULATOR

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