On the following loan what is the best estimate of the
On the following loan, what is the best estimate of the effective borrowing cost if the loan is prepaid in six years?
Loan: $100,000
Interest rate: 9 percent
Term: 180 months
Up-front costs: 7 percent of the loan amount
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on the following loan what is the best estimate of the effective borrowing cost if the loan is prepaid in six yearsloan
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