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41-44: Closing Costs. Consider the following pairs of choices for a $120,000 mortgage loan. Calculate the monthly payment and total closing costs for each choice.

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41-44: Closing Costs. Consider the following pairs of choices for a $120,000 mortgage loan. Calculate the monthly payment and total closing costs for each choice. Explain which loan you would choose and why. 41. Choice 1: 30-year fixed rate mortgage at 4% with closing costs of $1200 and no points Choice 2: 30-year fixed rate mortgage at 3.5% with closing costs of $1200 and 2 points

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