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#7 A floating rate mortgage loan is made for ( $ 110,000 ) for a 30-year period at an initial rate of 12 percent interest.

#7 A floating rate mortgage loan is made for \( \$ 110,000 \) for a 30-year period at an initial rate of 12 percent interest. However, the borrower and lender have negotiated a monthly payment of \( \$ 8 2 answers

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