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What is the effective cost of a $300,000 fixed rate mortgage loan at 5.0% for 30 years if the lender charges two points? Assume the

What is the effective cost of a $300,000 fixed rate mortgage loan at 5.0% for 30 years if the lender charges two points? Assume the loan is held until maturity.

Select one:

a. 5.33%

b. 5.0%

c. 5.25%

d. 5.18%

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