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and payments are made monthly. Identify the correct statement. Multiple Choice The 7 % quoted rate does not represent the effective annual rate charged on
and payments are made monthly. Identify the correct statement.
Multiple Choice
The quoted rate does not represent the effective annual rate charged on the mortgage.
The interest rate is fixed for years.
You will make a total of monthly payments to pay off the mortgage.
You have a highratio mortgage
Your interest rate is fixed for years, varlable for years.
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