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On a monthly amortized 25-year mortgage held to maturity, each discount point raises the effective interest rate on a loan by approximately? a. 1/16% b.

On a monthly amortized 25-year mortgage held to maturity, each discount point raises the effective interest rate on a loan by approximately?

a. 1/16%

b. 1/8%

c. 1/4%

d. 1/2%

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