If you want to take out a 30 year, $250,000.00 mortgage at 5.5% with 2 points:
a. Calculate your monthly principal and interest payment?
b. What is the APR(actual/true/effective rate of interest) on the loan?
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If you want to take out a 30 year, $250,000.00 mortgage at 5.5% with 2 points:
a. Calculate your monthly principal and interest payment?
b. What is the APR(actual/true/effective rate of interest) on the loan?