A lender is willing to offer an 70% LTV convertible mortgage to a borrower that is using it to purchase a $1.1m building. The convertible loan allows the lender to acquire 55% of the equity ownership in the property at the end of the fifth year. Property prices are expected to grow 3% annually. The loan is amortized over 20 years with monthly payments. and the loan interest rate is 6%. What is the effective yield of the loan? [Enter