A borrower seeks to borrower $175,000, 30-year CPM. The lender discloses to the borrower that the loan carries an annual interest rate of 5.125% with 1.0 points upfront. Due to points and other origination fees, the loan has an APR of 5.315%. How much is the "other origination fees" this lender charges the borrower? O $1,000 O $1,473 O $1,752 O $1,947

A borrower seeks to borrower $175,000, 30-year CPM. The lender discloses to the borrower that the loan carries an annual interest rate of 5.125% with 1.0 points upfront. Due to points and other origination fees, the loan has an APR of 5.315%. How much is the "other origination fees" this lender charges the borrower? O $1,000 O $1,473 O $1,752 O $1,947

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...

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