6. (15 pts) Over Spring Break you shopped for a mortgage for your first house since you heard mortgage rates are at an all-time low. You got a quote from a bank with an effective annual rate of 3.0% on a 30-year mortgage, that will be paid back in monthly installments. The loan amount is $100,000. However, in order to receive this relatively low interest rate, the bank required that you pay 2-points during the origination of your loan (a point is 1% of your loan). With you paying this one-time fee at the start of your loan, what is the ACTUAL effect annual rate that you will be paying on your loan? Hint: Use of a spreadsheet to iteratively solve for the interest rate would make solving this much easier