Michael has to choose between two banks offering different terms for a $$10000030-$year monthly amortized fixed$-$rate mortgage. Michael is planning on prepaying his loan after $5$ years. if the bank is applying the following closing fees and penalty rates for prepayment, what is the EBC of the most advantageous contract for Michael?

Write in percentage $(2$ decimal places$)$ and no percentage sign.

For example: if the answer is $1\mathrm{.}3255\%$ then write down $1\mathrm{.}33$

Bank A Bank B

Contract rate $7\mathrm{.}00\%7\mathrm{.}25\%$

Closing costs $27502250$

Prepayment penalty $2\mathrm{.}50\%1\mathrm{.}00\%$