A mortgage banker is originating a level$-$payment mortgage with the following terms:

Annual interest rate: $9\mathrm{.}0\%$

Loan term: $15$ years

Payment frequency: Monthly

Loan amount: $ $160,000$

Up$-$front financing costs $($including discount points$)$ paid to lender: $ $2,000$

Up$-$front financing costs paid to third parties other than the lender: $ $2,000$

Required:

Calculate the annual percentage rate $($APR$)$ for Truth$-$in$-$Lending purposes.

Calculate the lender$$s yield with no prepayment.

Calculate the lender$$s yield with prepayment at the end of five years.

Calculate the effective borrowing cost with prepayment at the end of five years.