QUESTION 9 Joe takes out a 30-year fixed rate amortized loan for 220,000, and makes equal size payments at the end of each month. The rate is quoted as being an annual nominal interest rate of 5.25% compounded monthly and Joe also has to pay closing fees equal to 5% of the value of the loan. Based on this information, find the actual interest rate realized by Joe (i.e. taking into account the loan given to Joe and the 5% that he pays for the closing fees). Give the value as an annual nominal rate compounded monthly, and round your percent answer to two decimal places. Note: You'll need a financial calculator to do this one