1 if a loan is held to maturity a prepayment penalty in a, Ask an Expert

Finance

1. If a loan is held to maturity, a prepayment penalty in a mortgage has the effect of ________ the APR.

Increasing

Decreasing

Doesn't affect

Cannot determine the effect

2. A borrower takes out a 30-year mortgage loan for $250,000 with an interest rate of 5% and monthly payments. What portion of the first month’s payment would be applied to interest?

$694

$1,042

$1,342

$1,355

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92075059

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