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Assume you have borrowed a fully amortizing loan with NET proceeds after paying two (2) points of $80,360. Assume further the loan has a payment

Assume you have borrowed a fully amortizing loan with NET proceedsafterpaying two ("2") points of $80,360. Assume further the loan has a payment of $491.63 based on a 30-year term with monthly payments in arrears? What is the contract interest rate?

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