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features of Word will be disabled. Reactivate 18) A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of 6%

features of Word will be disabled. Reactivate 18) A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of 6% plus 4 points. What is the effective annual interest rate on the loan if the loan is carried for all 30 years? A) 6.0% B) 5.6% C) 6.6% D) 6.4%

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