A couple purchases a home for 300000 in order to finance, Financial Management

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A couple purchases a home for 300000 in order to finance

A couple purchases a home for $300,000. In order to finance this purchase they secure an 80% LTV ratio loan for 30 years. They choose a loan with a 5% interest rate and 6 points with monthly payments. What is the effective interest cost of this loan assuming it is held to maturity?

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Financial Management: A couple purchases a home for 300000 in order to finance

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Financial Management: A couple purchases a home for 300000 in order to finance

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