Alender agrees to make a $1,000,000 loan for 25 years @ 9% interest, compounded monthly with monthly payments. They charge 2 discount points, and the borrower intends to pay the entire loan balance after 5 years (60 months). What is the effective cost of borrowing paid by the borrower? 9.00% 9.25% 9.52% 9.72% None of the Above