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Question 8 1 pts A borrower takes out a 30-year mortgage loan (with monthly payments) for $300,000 with an interest rate of 12% The lender

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Question 8 1 pts A borrower takes out a 30-year mortgage loan (with monthly payments) for $300,000 with an interest rate of 12% The lender requires 4.0 points to be paid at the time the loan is originated! What is the effective interest rate on the loan if the loan is repaid after 15 years? Please input your answer as a percentage (13.50% would be input as 13.50)

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