Assuming all APRs equal, the effective interest rate on a loan is highest when:

	Points are charged and the loan has a 20-year maturity but is prepaid in six years with a prepayment penalty
	Points are charged and the loan is paid off at maturity in 20 years
	The loan has no points and a 20-year maturity and is prepaid in six years
	The loan has no points and is prepaid at maturity

You want to take out a fully-amortizing 30-year mortgage. You can afford monthly payments of $600 each. The interest rate is 6%. How much money can you borrow?

	$75,687.
	$66,667.
	$74,569.
	$100,075.