farrin7196 farrin7196
  • 06-06-2023
  • Business
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On the loan below, what is the best estimate of the effective borrowing cost if the loan is prepaid 5 years after origination?
Loan amount $275,000
Interest rate 5.8%
compounding periods 12
maturity (yrs) 25 Up-front costs paid at closing 10%
a 8.70 b 8.40% c 8.37% d 8.50%

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