What is the APR on a $700,000 fixed rate mortgage loan fully amortizing over 30 years if the stated annual interest rate is 5.5% and the lender charges 1.5% as an origination fee, $750 for an appraisal and $18 for a credit report? a.5.65% b.5.72% c.5.36% d. 5.5%
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What is the APR on a $700,000 fixed rate mortgage loan fully amortizing over 30 years if the stated annual interest rate is 5.5% and the lender charges 1.5% as an origination fee, $750 for an appraisal and $18 for a credit report?
a.5.65%
b.5.72%
c.5.36%
d. 5.5%
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