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Business, 23.02.2022 14:00 manbabymanhook

A mortgage broker is offering a 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 5.5 percent APR interest rate. After the second year, the mortgage interest charged increases to 8.5 percent APR. What is the effective interest rate in the first two years

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A mortgage broker is offering a 30-year mortgage with a teaser rate. In the first two years of the m...
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