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Consider the following choices available to a mortgage borrower: .............................................................. Loan Interest Type of Discount Amount Rate Mortgage Point .............................................................. $100,000 6.75% 30 yr fixed
Consider the following choices available to a mortgage borrower: .............................................................. Loan Interest Type of Discount Amount Rate Mortgage Point .............................................................. $100,000 6.75% 30 yr fixed none $150,000 6.25% 30 yr fixed 1 $125000 6.0% 30 yr fixed 2
What is the effective annual rate for each choice?
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