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April 16, 2014

Homework Help: Fiancial Management

Posted by Tuty on Sunday, August 3, 2008 at 6:15pm.

You decide to purchase a building for $30,000, you put $5,000 down payment. The banks offers you a 15 yr mortgage requiring annual end of year payments of $3,188. The bank also requires you to pay a 3% loan originatio fee. Compare the annual % rate of interest on this loan.

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