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How many discount points are necessary to raise the yield of a 6% loan with 360 monthly payments of $1,400 to 6.25%? (Hint: find the

How many discount points are necessary to raise the yield of a 6% loan with 360 monthly payments of $1,400 to 6.25%? (Hint: find the present value of the annuity under each interest rate then examine the difference!)

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