Given the Following Information About a Fully Amortizing Loan, Calculate

question 18

Multiple Choice

Given the following information about a fully amortizing loan, calculate the lender's yield (rounded to the nearest tenth of a percent) . Loan amount: $166,950, Term: 30 years, Interest rate: 8 %, Monthly Payment: $1,225.00, Discount points: 2.

• A)7.7%
• B) 8.0%
• C) 8.2 %
• D)10.0 %

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Definitions:

Output

The total amount of goods or services produced by a company, sector, or economy in a given period.

Slope

In mathematics, a measure of the steepness, incline, or grade of a line, typically calculated as the ratio of rise over run.

Purchased Abroad

Items or services bought from another country, often involving importation and subject to international trade policies and currency exchange rates.

Sold Abroad

A term referring to goods or services that are exported to another country.