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Suppose that a bank offers a 15 -year mortgage rate of 6% (APR). If you make mortgage payment every month (i.e., compounded monthly), the monthly

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Suppose that a bank offers a 15 -year mortgage rate of 6% (APR). If you make mortgage payment every month (i.e., compounded monthly), the monthly interest rate is (per month). 6% 3% 1.5% 0.5% None of the above

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