Determine who offers the lowest effective interest rate

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Reference no: EM13333172

you have a house under contract for $125,000 and are putting 20% down. You are deciding the best lender based on their interest rates and points. Assume that you will finance the house for 30 years. Of the follwing lenders who offers the lowest effective interest rate?

Billy bank Khan Bank Emily Bank Bank of steve

Rate 5% 5.125% 4.875% 5.200%

Points 1 .75 3.0 0

Must show all interest rates, then pick the best offer

Reference no: EM13333172

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