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    A Loan Company Dropped the Interest Rate It Charges on Second
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A Loan Company Dropped the Interest Rate It Charges on Second

Question 407

Question 407

Multiple Choice

A loan company dropped the interest rate it charges on second mortgages from 8.7% to 7.3%. What percent reduction did this represent?


A) 1.4%
B) 19.2%
C) 16.1%
D) 14%
E) 15.6%

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