Suppose Colby (in the question above) is required to pay two (2) points at the time of origination. If Colby keeps the loan for the full term, what is her effective interest rate? a. 8.23% b. 5.89% c. 7.34% d. 6.57% Suppose Colby (in the question above) is required to pay two (2) points at the time of origination. If Colby keeps the loan for the full term, what is her effective interest rate? a. 8.23% b. 5.89% c. 7.34% d. 6.57%