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George and Annette are refinancing their home. They're borrowing [tex]$267,500 at a 5%
interest rate, and their lender is charging them a flat commitment fee of $[/tex] 1,500. They'll pay [tex]$6,600 in closing costs. Whether they close or not, George and Annette will
loan commitment fee.
pay
a
$[/tex]0 [tex]$13,425
$[/tex]1,500 $6,600
Sagot :
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