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A lender is offering you a $300,000,15-year fixed-rate mortgage loan (FRM) at 4.0%. 1. What is your monthly payment? 2. What is your annual effective

A lender is offering you a $300,000,15-year fixed-rate mortgage loan (FRM) at 4.0%. 1. What is your monthly payment? 2. What is your annual effective borrowing cost (EBC) percentage if you plan to move in four years and have agreed to 2.5 points

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