Question: Max has been offered a $ 2 5 0 , 0 0 0 , 2 5 - year mortgage with an interest rate of 5

Max has been offered a $250,000,25-year mortgage with an interest rate of 5% and repayments of $1,461. Marion has been offered a 25-year mortgage with the same repayments of $1,461. Given this which of the following could be correct? (You don't need to do any calculations) f Marion's loan was $300,000 the interest rate must be higher than 5%. If Marion's interest rate was 7% her loan size was must be larger None of these answers If Marion's loan size was $200,000 her interest rate must be higher than 5%

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