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A lender has offered you either a $300,000 30-year FRM Loan at 4.32% or a $342,000 30-year FRM loan at 4.68% where both loan options

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A lender has offered you either a $300,000 30-year FRM Loan at 4.32% or a $342,000 30-year FRM loan at 4.68% where both loan options have monthly payments and fully amortize. What is the incremental borrowing cost (IBC) of the two loan options if you do not intend to prepay either loan? Please represent your answer as an ANNUAL percentage rounded to 2 digits right of the decimal

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