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Assume a 30 year fixed rate, fully amortizing mortgage for $280,000 at a stated rate of 5% with monthly payments and WITH 2 POINTS at

Assume a 30 year fixed rate, fully amortizing mortgage for $280,000 at a stated rate of 5% with monthly payments and WITH 2 POINTS at closing. What is the loan payoff at the end of four years?

a.$246,339

b.$262,164

c.$258,177

d.$268.412

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