Calculate the effective rate under the following terms, All fees and conditions that are listed should be incorporated into the calculation. Loans are amortized for the full number of contract years but may be refinanced at an earlier date if stated. This loan is for $200,00030 years, 9.7%,2% prepayment penalty, retired through refinancing in 5 yrs. 10.62% none of these 10.26% 9.89%