Ann is looking for a fully amortizing 30 year Fixed Rate Mortgage with a mortgage amount of $4,500 and monthly payments. She takes the mortgage with 7.38% interest rate that requires Ann to pay 3 points upfront. Assuming Ann makes payments for 30 years, what is Ann's annualized IRR? Write your answer as a percent rounded to two decimal points without (e.g. if you get 5.6499%, write 5.65). the % sign

Ann is looking for a fully amortizing 30 year Fixed Rate Mortgage with a mortgage amount of $4,500 and monthly payments. She takes the mortgage with 7.38% interest rate that requires Ann to pay 3 points upfront. Assuming Ann makes payments for 30 years, what is Ann's annualized IRR? Write your answer as a percent rounded to two decimal points without (e.g. if you get 5.6499%, write 5.65). the % sign

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 25PROB

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