A prepayment penalty in a mortgage has the effect of ________ the APR.
A) increasing
B) decreasing
C) doesn't affect
D) cannot determine the effect
Correct Answer:
Verified
Q2: The ability of a borrower in any
Q3: The effective interest charge on a loan
Q4: A discount point is:
A) one percent of
Q5: Suppose you take an FRM of $150,000
Q6: While reviewing the documents on your new
Q8: Your monthly payment on a $125,000 fixed-rate
Q9: Suppose your FRM monthly payment is $1048.82
Q10: The mortgage constant (MC)factor calculates the payment
Q11: In Roman law the an instrument used
Q12: Suppose you take an FRM of $150,000
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