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What interest rate on a fully amortized fixed-rate 15-year loan with monthly payments will make it such that the amount of total interest paid on
What interest rate on a fully amortized fixed-rate 15-year loan with monthly payments will make it such that the amount of total interest paid on this loan is ONE THIRD of the total interest paid on the 30-year loan with fixed interest rate of 7% and monthly payments assuming that both loans are held for their entire respective terms?
A.
8.74%
B.
4.45%
C.
5.44%
D.
2.73%
E.
7.48%
F.
2.47%
G.
9.13%
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