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Mary Smith wants to buy a property for $275,000 and obtains an 80 percent loan. This loan can be obtained for 30 years at 5.75

Mary Smith wants to buy a property for $275,000 and obtains an 80 percent loan. This loan can be obtained for 30 years at 5.75 percent interest (monthly payments) with two points charged on the loan.

A) What dollar amount will the lender actually disburse?

B) What is the monthly payment?

C) How much interest is paid in year 4?

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