Real Estate MathInterestEASY
What is the interest rate on a $150,000 loan requiring an annual interest payment of $6,500?
Correct Answer
B) 4.33%
Interest Rate = $6,500 ÷ $150,000 = 0.0433 = 4.33%
Answer Options
A
3.33%B
4.33%C
5.33%D
6.33%Video Explanation3 min
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Related Topics & Key Terms
Related Topics:
loan-to-value-ratioamortization-scheduleapr-vs-interest-rate
Key Terms:
interest rate formulaannual interestloan principalreal estate mathTruth in Lending Act
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