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Suppose you need to make $300,000 mortgage loan for 30 years; two options are available: one for 5% with no discount point and another for

  1. Suppose you need to make $300,000 mortgage loan for 30 years; two options are available: one for 5% with no discount point and another for 4.5% for two discount points; no early payments are available. Which option would you prefer? Assume monthly payments.

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