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A fully amortizing mortgage loan in the amount of $100,000 is made at 12 percent interest for 20 years. Payments are to be monthly. If

A fully amortizing mortgage loan in the amount of $100,000 is made at 12 percent interest for 20 years. Payments are to be monthly. If 3 points are deducted in closing costs, what is the effective interest rate for the loan

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