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Question 8 5 pts A borrower would like to finance a property worth $500,000 for...

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Question 8 5 pts A borrower would like to finance a property worth $500,000 for 30 years at 3% interest. The lender indicates that loan fees (origination and discount points) equal to 3% of the loan amount, and the lender offers to finance these fees. What is the actual effective interest rate of the loan (annual rate of interest, compounded monthly? none of these 3.4896 3.23% 4.25%

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