$4.$ For originating the loan detailed below, you agree to pay the lender $1\mathrm{.}5$ points. What is the Annual Percentage Rate $($APR$),$ shown as a $\%,$ of the loan?

A lender is offering you a $$295,00030$Y FRM loan at $5\mathrm{.}5\%.$ You solve for the payment by entering:

$$ PV$=295,000-4,425=290,575$

$$ i$=5\mathrm{.}5/12=0\mathrm{.}45833$

$$ N$=30$x$12=360$

$$ FV$=0($b$/$c fully amortizes$)$

$$ PMT$=$ $$1,674\mathrm{.}97$