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On the following loan information on the fully-amortized fixed-rate mortgage, what is the effective cost of borrowing (ECB) if the borrower is expected prepay the

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On the following loan information on the fully-amortized fixed-rate mortgage, what is the effective cost of borrowing (ECB) if the borrower is expected prepay the mortgage at the end of year 6 ? (choose the closest answer) 7.10% 6.50% 6.80% 7.40\%

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