O 30 1 point 7.4% Assume that a borrower is expected to prepay a loan at the end of Year 5. Based on the following loan information e effective cost of borrowing of Loan C? (choose the closest answer) Financial Calculator 1: Financial Calculator 2 Loan Amount Maturity Contract interest rate Upfront fees Loan C $200,000 30 years 6.25% 3% Upfront mortgage insurance fee 1.6% Prepayment after Year, 5 Effective Cost of Borrowing 6.6% 6.7% 7.4% 7.6% Saturn Sulama mortized fixed rate En, what is the