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OpenStudy (anonymous):
Jessica is buying a house for $445,000. She obtains a mortgage in the amount of $326,000 at a 3.5% fixed rate. The bank offers a 3.25% interest rate if Jessica pays 2.75 points. What is the cost of points for this mortgage rounded to the nearest dollar?
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OpenStudy (anonymous):
a. $12,238 b. $8,965 c. $11,410 d. $10,595
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