Mortgage Information: Interest Only Payments Initial Loan Amount: $22,000 Fully Amortizing Term: 30 years Fixed rate interest rate: 3.25% Fees at origination: 3rd party fees: $750. What are the monthly payments? O.a $59.58 O.b $131.91 O.c $715.00

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Chapter7: Using Consumer Loans
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Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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Mortgage Information: Interest Only Payments Initial Loan Amount: $22,000 Fully Amortizing Term: 30 years Fixed rate interest rate: 3.25% Fees at origination: 3rd party fees: $750.

What are the monthly payments?

O.a $59.58

O.b $131.91

O.c $715.00

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