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The annual mortgage constant on any amortizing loan is the percentage calculated by dividing the annual debt service by the original principal balance? True, and

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The annual mortgage constant on any amortizing loan is the percentage calculated by dividing the annual debt service by the original principal balance? True, and it always exceeds the nominal interest rate on the loan True, and it is always less than the nominal interest rate on the loan False True, and it usually equals the nominal interest rate

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