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Question text If you obtain a mortgage loan in the amount of $350,000 at 5.5% interest amortized over 30 years and pay two and one

Question text

If you obtain a mortgage loan in the amount of $350,000 at 5.5% interest amortized over 30 years and pay two and one half points for the loan, what is the dollar amount of the points paid?

Select one:

a. $9,625

b. $8,750

c. $1,988

d. $19,250

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