What is the borrowers effective borrowing cost effective, Finance Basics

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What is the borrowers effective borrowing cost effective

Consider a $185,000, 20-year, fixed-rate mortgage with monthly payments and a 7.825% interest rate. Assume that the borrower pays one origination point and $800 in other loan processing fees. Using the stated fees, what is the borrower's effective borrowing cost (effective rate) if he plans on holding the loan for 7 years?

Can you demonstrate how to calculate this ECB problem on a financial calculator?

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Finance Basics: What is the borrowers effective borrowing cost effective

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Recent Questions Asked Finance Basics

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Finance Basics: What is the borrowers effective borrowing cost effective

Reference No:- TGS0600697

Recent Questions Asked Finance Basics

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