Determine the Comparable Interest Rate for a $50,000 Loan with the Following

question 97

Short Answer

Determine the comparable interest rate for a $50,000 loan with the following quoted information. Give your answer to two decimal places, if necessary.
9.85% + 3 pts + $150 origination fee
__________ %

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Definitions:

Secure Attachment

This is a type of emotional bond characterized by feelings of safety, security, and trust in relationships, often developed in early childhood.

Collaborative Empiricism

A therapeutic technique in cognitive therapy that involves working jointly with the client to empirically test the validity of specific thoughts and beliefs.

Beck's Cognitive

Beck's Cognitive Therapy, developed by Aaron T. Beck, is a therapeutic approach that identifies and changes negative and dysfunctional thoughts and beliefs to treat psychological disorders.

Psychotherapy

The treatment of mental disorder by psychological rather than medical means.