1. True or False Increasing the discount points for a mortgage increases its APR and its effective mortgage rate.
2. True or False Changing the amount of a loan while keeping the stated interest rate, the term, and the up-front costs the same will have no effect on the APR.
3. True or False Refer to Example 10. If the stated interest rate were 9% instead of 6%, then the effective mortgage rate would be 9.24%. That is, the interest rate would increase by the same amount as before, .24%?