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For a reverse mortgage with 20-year term loan amount $300,000 Interest rate 8% There is no origination fee If the origination fee is $6,000, what

For a reverse mortgage with 20-year term

loan amount $300,000

Interest rate 8%

There is no origination fee

If the origination fee is $6,000, what is the effective cost if the senior lives out the entire loan?

8.12% 9.88% 8.96% 8.88%

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