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What is the eec of this loan

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Reference no: EM133172340

Question - A borrower takes out a 30-year FRM for $300,000 with an annual interest rate of 4% plus 3 discount points. All the loan closing fees is $3,000 including fees to third parties. The monthly payment of the loan is $1,432.2459. If the borrower is planning to prepay at the end of year 10, what's the EEC of this loan?

Reference no: EM133172340

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