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A borrower takes out a 30-year mortgage loan for $500,000 with an interest rate of 12% plus 4 points. What is the effective interest rate

A borrower takes out a 30-year mortgage loan for $500,000 with an interest rate of 12% plus 4 points. What is the effective interest rate on the loan if the loan is carried for all 30 years?
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uestion 1 45 points A borrower takes out a 30 year mortgage loan for $500.000 with an interest rate of 12 plus points. What is the effective interest rate on the loan if the loan cared for all years

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