$2.$ You borrow $$865,000$ at $7\mathrm{.}25\%$ amortized over $25$ years with monthly payments. You pay $3$ points to obtain the loan. Answer the following:

a$.$ APR $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

b$.$ Effective cost of borrowing if paid off at EOY $5\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$