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Homework: M2: Chapter 5 Homework Sav Score: 0 of 1 pt of 18 (15 complete) HW Score: 57.34%. 10.32 of 18 P5-35 (similar to) Question Help Your uncle Fred just purchased a new boat. He brags to you about the low 6.8%% interest rate (APR. mont even lower than the rate he could have obtained on his home equity loan (7.9% APR. mont dealer. The rate is equity loan is tax deductible, which loan is truly cheaper? HY compe ding) he obtained from t and The after-tax cost on the home equity loan is %. (Round to two decimal places.) ter your answer in the answer box and then click Check