A loan with the following terms is being made:

Fixed rate, constant monthly payment. Closing date February $9$th$.$

Five percent interest rate. Prepaid interest due at closing.

$$80,000$ mortgage loan amount.

$$1,600$ loan discount points to be paid by the buyer or borrower to the lender.

$25-$year term, monthly payments, fully amortizing.

Required:

Calculate the APR for federal truth$-$in$-$lending purposes.