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Assume you buy a home and borrow $ 1 2 5 , 0 0 0 at 6 . 4 % for 2 0 years. You

Assume you buy a home and borrow $125,000 at 6.4% for 20 years. You pay a total of $6,238 for origination fee, points, and mortgage insurance. In addition you pay other loan costs of $2,182. You pay the first years hazard insurance premium of $385 and are required to deposit $295 into an escrow account. What is the reportable APR?
7.05%
7.30%
7.34%
7.37%

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