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Consider a $5,000,000, 10% rate, 30-year mortgage with constant annual payments, fully amortizing. What is the yield to maturity (YTM) of this loan under the

Consider a $5,000,000, 10% rate, 30-year mortgage with constant annual payments, fully amortizing. What is the yield to maturity (YTM) of this loan under the following circumstances:

(a) No points

(b) Three points of disbursement discount (paid by the borrower) 

(c) One point of disbursement discount (paid by the borrower)

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