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A borrower takes out a 30 -year morigoge loan for $250,000 with an interest rate of 3.90 plus 3 points. What is tive effective anmual

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A borrower takes out a 30 -year morigoge loan for $250,000 with an interest rate of 3.90 plus 3 points. What is tive effective anmual interest rath on the igan if the loan is camed for ail 30 years? 6.9% 4.176 3.176 3.94 2.6%

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