Probability, Statistics & Finance
Not what you're looking for?
Problem:
The APR for a 30 year, $250,000 mortgage at 6% interest compounded monthly and two discount points is:
A. 6.25%
b. 6.19%
c. 6.12%
d. 5.87%
e. None of the above.
Purchase this Solution
Solution Summary
The solution determines a question based on probability, statistics and finance.
Solution Preview
Your answer is 6.19%.
Also, here is some information about the APR to help you understand it a little better.
What is an Annual Percentage Rate (APR)?
The annual percentage rate (APR) is an interest rate that is different from the note rate. It is commonly used to compare loan programs from different lenders. The Federal Truth in Lending law requires mortgage companies to disclose the APR when they advertise a rate. ...
Purchase this Solution
Free BrainMass Quizzes
Solving quadratic inequalities
This quiz test you on how well you are familiar with solving quadratic inequalities.
Graphs and Functions
This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.
Exponential Expressions
In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.
Geometry - Real Life Application Problems
Understanding of how geometry applies to in real-world contexts
Probability Quiz
Some questions on probability