a 20-year loan is being negotiated with a bank.$50000 is to be borrowed at 8% interest compounded quarterly with mortgage payments to be made at the end of each quater over a 20 year period. to obtain the loan the borrower must pay "2 points" at the time they take out the loan. this mean the borrower must pay 2% of $50000. or a $1000 fee, at time zero to obtain the $50000 loan. determine the annual percentage rate ( APR) the investor is paying on the loan?

Please do not copy and paste because the answer was not right.

AND THANKS adding the formulas