I'm using a financial calculator, so there's no need to do all the calculation.

Can you please help me to to find all the steps to the answer cause there's gotta be something that I'm missing.

Thanks, in advance.

67. Question You have arranged a mortgage for a borrower in the amount of $210,000. The loan calls for quarterly payments based on a 20 year amortization period and a contract rate of 7% per annum, compounded annually, with a 4 year term. Included in the face amount is your $2,200 commission and legal fees of $1,500. What is the cost of funds advances to the borrower, expressed as a nominal rate, compounded semi-annually? 1. 7.428208% 2. 9.524296% 3. 736048796 7.56615696