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A borrower takes out a 25-year mortgage loan (with monthly payments) for 100,000 with an interest rate of 6% The lender requires 3.0 points to

A borrower takes out a 25-year mortgage loan (with monthly payments) for 100,000 with an interest rate of 6% The lender requires 3.0 points to be paid at closing. What is the effective annual interest rate on the loan if the loan is carried for all 25 years?

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