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Assume you have a 15 year mortgage for $350,000 with a 3.5% rate with monthly payments. To get the loan at the terms stated, the

Assume you have a 15 year mortgage for $350,000 with a 3.5% rate with monthly payments. To get the loan at the terms stated, the lender is charging loan discount points of 2%. What is the effective rate of the loan? Please answer to the 4-decimal point level expressed as whole number (example: 7.58% would be 7.58), do not use the % sign)

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