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calculate the incremental cost of financing a higher amount, after you have taken into consideration the points.

INSTRUCTIONS TO CANDIDATES
ANSWER ALL QUESTIONS

Chapter 6

Incremental Cost

Holding period 25

Loan Points Loan Proceeds Rate Term* Payment Balance

$90,000 2.00% $88,200 7.00% 30 598.77 $30,239.19 

$80,000 0.00% $80,000 6.00% 30 479.64 $24,809.67 

$10,000 $8,200 30 119.13 5,429.52

#6 Incremental Cost *Should be the same term for both loans

For #6, calculate the incremental cost of financing a higher amount, after you have taken into consideration the points.

 

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