Effective Interest Rates:you have a house under contract for $125,000
question: you have a house under contract for $125,000 and are putting 20% down. You are deciding the best lender based on their interest rates and points. Assume that you will finance the house for 30 years. Of the follwing lenders who offers the lowest effective interest rate?
Billy bank Khan Bank Emily Bank Bank of steve
Rate 5% 5.125% 4.875% 5.200%
Points 1 .75 3.0 0
Must show all interest rates, then pick the best offer
question: you have a house under contract for $125,000 and are putting 20% down. You are deciding the best lender based on their interest rates and points. Assume that you will finance the house for 30 years. Of the follwing lenders who offers the lowest effective interest rate?
Billy bank Khan Bank Emily Bank Bank of steve
Rate 5% 5.125% 4.875% 5.200%
Points 1 .75 3.0 0
Must show all interest rates, then pick the best offer
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