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Assuming a constant APR the effective interest rate on a loan is highest when: Multiple Choice points are charged and the loan has a 3

Assuming a constant APR the effective interest rate on a loan is highest when:

Multiple Choice

points are charged and the loan has a

30 -

year maturity but is prepaid in five years.

the loan has no points and is prepaid at maturity.

the loan has no points and a

30 -

year maturity and is prepaid in five years.

points are charged and the loan is paid off at maturity in

30

years.

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