Business, 02.02.2022 08:40, officialrogerfp3gf2s
A lender is considering what terms to allow on a loan. Current market terms are 9 percent interest for 25 years for a fully amortizing loan. The borrower, Rich, has requested a loan of $109,000. The lender believes that extra credit analysis and careful loan control will have to be exercised because Rich has never borrowed such a large sum before. In addition, the lender expects that market rates will move upward very soon, perhaps even before the loan is closed. To be on the safe side, the lender decides to extend to Rich a CPM loan commitment for $103,550 at 9 percent interest for 25 years; however, the lender wants to charge a loan origination fee to make the mortgage loan yield 10 percent.
Required:
a. What origination fee should the lender charge?
b. What fee should be charged if it is expected that the loan will be repaid after 10 years?
Answers: 3
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Melissa buys an iphone for $240 and gets consumer surplus of $160. a. what is her willingness to pay? b. if she had bought the iphone on sale for $180, what would her consumer surplus have been?
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Which of the following most accurately describes how the equilibrium price of a good or service can be determined? a. by moving the supply curve right or left until it matches the demand curve. b. by finding where the supply curve and the demand curve intersect. c. by doing market research to determine the maximum price consumers will pay. d. by taking the opposite of the columns in a supply schedule and a demand schedule.
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A lender is considering what terms to allow on a loan. Current market terms are 9 percent interest f...
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