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0 13.50X Question 31 1 pts A borrower took a mortgage loan 7 years ago for $160,000 at 10.25% interest for 30 years. He
Posted: Sun May 08, 2022 3:50 pm
by answerhappygod
- 0 13 50x Question 31 1 Pts A Borrower Took A Mortgage Loan 7 Years Ago For 160 000 At 10 25 Interest For 30 Years He 1 (28.84 KiB) Viewed 27 times
0 13.50X Question 31 1 pts A borrower took a mortgage loan 7 years ago for $160,000 at 10.25% interest for 30 years. He now wants to refinance the entire loan balance with a new loan at 90% for 23 years. Origination fees and closing costs are $6,500 and is to be paid upfront with cash. If you consider this $6.500 cost as an investment, what is the return on such an investment if the borrower holds the new loan to maturity? O 15.39% 13.01% 17.85% 0 23,77%