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Grade 7
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Credit and Risk Management
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Grade Level
Grade 7
7.50 Credit and Risk Management
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🔴 Hard
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A lender offers to refinance your loan to a lower APR but adds fees of $900.
What is the key question to decide if refinancing is worth it?
A
Whether the new loan has a different color card
B
Whether the interest savings over time exceed the refinancing fees
C
Whether the lender advertises on TV
D
Whether you can get a longer term
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