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Close. N = 300, iy= rate/12, PV = 0, FV = -1, solve for PMT. This will give you a rate. Multiply by 12 to get the annual value. Then add that to mortgage cost. So if the mortgage rate is 7% and the value from the calculator multipled by 12 = .03, the total cost of debt is 7% + 3% = 10%.

That should do it.

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