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A Customer Has a First Mortgage of $100,000 at 5

Question 158

Multiple Choice

A customer has a first mortgage of $100,000 at 5.5% and a second mortgage of $50,000 at 7.8%. What is the average rate of mortgage that the customer pays?


A) 6.7%
B) 7%
C) 5.9%
D) 6.5%
E) 6.3%

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