[Solved] Assume you pay points on a 30-year fixed

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Assume you pay points on a 30-year fixed rate loan but have decided to sell your house five years after getting the loan. Which of

Assume you pay points on a 30-year fixed rate loan but have decided to sell your house five years after getting the loan. Which of the following most accurately describes the effective interest rate on the loan?

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There is no effect on the effective interest rate.

Cannot be determined from the information given

The effective interest rate increases

The effective interest rate declines

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