APR Annual Percentage Rate. APR is the true or effective interest rate for a loan. It is the actual yield to the lender. The APR is calculated using the stated interest rate, any prepaid interest (points) or other lender fees. Points.
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The amount of the points that is being required is $200,000 x 0.02 = $4,000.
Therefore the amount of the funded loan is $200,000 less the $4,000 = $196,000.
PV=196,615 FV=0 I/Y=8.0 N=300
PV=196,615 FV=0 I/Y=8.0 N=360