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(4) You are offered two mortgage options. (a) A 70% loan-to-value (LTV) that is fully amortized over 20 years with 7% interest rate; (b) An

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(4) You are offered two mortgage options. (a) A 70% loan-to-value (LTV) that is fully amortized over 20 years with 7% interest rate; (b) An 80% LTV that is fully amortized over 20 years with 8% interest rate and subject to 3 points. Which alternative you choose? Why

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