A mortgage lender has offered you a $425,000 30-year 3/1 Hybrid adjustable rate mortgage (ARM) loan with monthly payments that fully amortizes with $6,000 of origination fees. The initial rate of the offered loan is 4.2%, but future payments after the loan resets will be indexed the current 10- year T-bond rate plus a margin of 276 basis points. There are no interest-rate caps on the loan and the 10-year T-bond rate will be equal to 3.24% at the time the loan will be originated. What is the ANNUAL PERCENTAGE RATE of the loan disclosed by the lender at the time of origination? Please indicate your answer as an ANNUAL percentage rounded to 2 digits right of the decimal. A mortgage lender has offered you a $425,000 30-year 3/1 Hybrid adjustable rate mortgage (ARM) loan with monthly payments that fully amortizes with $6,000 of origination fees. The initial rate of the offered loan is 4.2%, but future payments after the loan resets will be indexed the current 10- year T-bond rate plus a margin of 276 basis points. There are no interest-rate caps on the loan and the 10-year T-bond rate will be equal to 3.24% at the time the loan will be originated. What is the ANNUAL PERCENTAGE RATE of the loan disclosed by the lender at the time of origination? Please indicate your answer as an ANNUAL percentage rounded to 2 digits right of the decimal