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What is the effective cost to the borrower on a $400,000 loan at 6.50 percent interest, with monthly payments amortized over 25 years if the

What is the effective cost to the borrower on a $400,000 loan at 6.50 percent interest, with monthly payments amortized over 25 years if the lender charges 3 points at origination and the borrower will incur $7,100 in third party loan costs. Assume the loan is outstanding for the full loan term which is fifteen years

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