Question: Question 9 ( 5 points ) Which one of the following is TRUE about prepayment penalties? They are never used with residential mortgages They are

Question 9(5 points)
Which one of the following is TRUE about prepayment penalties?
They are never used with residential mortgages
They are not included in the APR calculation
They lower the effective cost if the loan is repaid before maturity
They are equivalent to charging additional points for the loan
Question 9 ( 5 points ) Which one of the

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