D Question 17 1 pts You just bought a new home for $300,000. You have decided to put down 10 percent and finance the balance at 6 percent for 30 years. You will pay two points plus closing costs of $1,800 to close the loan. Suppose you hold the mortage for only 10 years (120 months) before prepaying the mortgage. If the bank charges a 3 percent prepayment penalty, what is the effective cost of borrowing? 6.7899 Percent 6.5799 Percent 6.3799 Percent 6.1999 Percent None of the Above