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Suppose you are considering borrowing $150,000 to finance your dream house or choza. The annual percentage rate is 10.5% and payments are made monthly. If

Suppose you are considering borrowing $150,000 to finance your dream house or choza. The annual percentage rate is 10.5% and payments are made monthly. If the mortgage has a 15-year amortization schedule. Whats the effective rate?

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