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What is the face value of the loan

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The Robinsons' need $210,000 for a 30-year home loan. The lender charges 2 points on the loan.

a. What is the face value of the loan? 

b. If the monthly payment is $1325.24, what is the effective interest rate for this loan? Round to the nearest .1%. For full credit, show the equation you used and at least three trial value

Reference no: EM132707457

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