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2. Consider a loan with the following terms: $300,000 home 80% LTV Loan 9% Interest 1 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 1 2 Points 30 Years a. What is the amount actually received (after factoring in the points)? Assume monthly payments. 300,000 * .80 = 240,000|| b. What is the effective interest rate

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