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Question 6 1 pts Bob is considering fixed-rate loans from two different lenders who are willing to finance the purchase of a home. The loan

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Question 6 1 pts Bob is considering fixed-rate loans from two different lenders who are willing to finance the purchase of a home. The loan amount is $90,000. Lender A is offering a 30-year, monthly payment loan at 7% interest with 3 points. Lender B is offering a 30-year, monthly payment loan at 7.5% interest with no points. Which of the following advice would be best for Bob assuming he does not plan to prepay either loan? (Hint: find the effective interest rate on each loan and compare.) Points do not affect the loan choice, so toss a coin and pick one. O Loan B is better. Loan A is better O Both loans are equally desirable

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