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Problem:

You are given the following options pertaining to home mortgage financing: A) Loan amount $200,00, fixed rate 3.5%, 30 year term, closing costs = $7,000. APR _______________ B) Loan amount $200,000, Fixed rate 3.25%, 30 year term, closing costs = $11,500. APR _________ C) Which option would you prefer? Why?

Please explain in detail and also provide full explanation.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147444

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