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After promotional rate expires, the rate will adjust to Prime(1) and may vary for the remaining life of the loan. As of July 1, 2010 this variable APR would have been 5.00%. The rate on the plan will not exceed 18% APR. If only the minimum monthly payments are made, a balloon payment will be due at maturity. Consult your tax advisor for information on interest deductibility.
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(1) Prime is the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks known as the Wall Street Journal U.S. Prime Rate and is published in the Wall Street Journal. To determine the annual percentage rate that will apply to your line of credit, we round to the nearest .125 percent.
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