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Calculate the effective cost on a $225,000 loan with 4 points, a 3.5% rate and a 30 year term. A. 3.46% B. 4.05% C. 3.62%

Calculate the effective cost on a $225,000 loan with 4 points, a 3.5% rate and a 30 year term.

A. 3.46%

B. 4.05%

C. 3.62%

D. 3.83%

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