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Please provide explanation on how to solve! Calculate the effective cost on a $225, 000 loan with 4 points, a 3.5% rate and a 30

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Please provide explanation on how to solve!

Calculate the effective cost on a $225, 000 loan with 4 points, a 3.5% rate and a 30 year term. 3.46% 4.05% 3.62% 3.83%

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