Suppose that you are purchasing a house (loan amount =$200,000) and inquire about the terms for a 30-year fixed-rate mortgage. You are given the following two quotes: - Loan #A: - Annual interest rate of 3.75% with monthly payments and compounding - No discount points - Origination fee of 0.75% - $928 in third-party closing costs - Loan # B: - Annual interest rate of 3.625% with monthly payments and compounding - 1.25 discount points - Origination fee of 1% - $18 in third-party closing costs (Enter the answer as a positive number and round your answer to 2 decimals. Also, report the effectite borrowing cost without the percentage sign. For example if your calculated EBC is 5 , record your answer as 5.00 ) Question 7 (1 point) What is the Effective Borrowing Cost (EBC) for Loan A if we prepay at the end of the third year? Your Answer: Answer Question 8 (1 point) What is the Effective Borrowing Cost (EBC) for Loan B if we prepay at the end of the third year? Your