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2. Consider a loan with the following terms: $300,000 home 80% LTV Loan 9% Interest 2 Points - 30 Years a. What is the amount

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2. Consider a loan with the following terms: $300,000 home 80% LTV Loan 9% Interest 2 Points - 30 Years a. What is the amount actually received (after factoring in the points)? Assume monthly payments. b. What is the effective interest rate? 1

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