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How many points are necessary to raise the yield of a 12% loan with 360 monthly payments of $514.30 to 12.42% ? (Hint: find the

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How many points are necessary to raise the yield of a 12% loan with 360 monthly payments of $514.30 to 12.42% ? (Hint: find the present value of the annuity under each interest rate then examine the difference!) a. 1 b. 3 c. 2 d. 4

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