Solved: Calculate the apr for federal truth-in-lending, Finance Basics

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Calculate the apr for federal truth-in-lending

A loan with the following terms is being made:

Fixed rate, constant monthly payment. Closing date March 9^th. 8% interest rate. Prepaid interest due at the closing. $80,000 mortgage loan amount $1,500 loan discount payments to be paid by the buyer/borrower to the lender. 25-year term, monthly payment, fully amortizing.

a. Calculate the APR for federal truth-in-lending purposes.

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Finance Basics: Calculate the apr for federal truth-in-lending

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Finance Basics: Calculate the apr for federal truth-in-lending

Reference No:- TGS02751484

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