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Use Estimation to Select the Best Response

Question 161

Multiple Choice

Use estimation to select the best response. Do not calculate. A $49,000 30-year loan at
10% + 1 point + $200 origination fee
Would have a comparison rate of


A) more than 10%
B) 10%
C) less than 10%
__________ (A, B or C)

Correct Answer:

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