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Today, a mortgagor has secured a 2 5 - year ( monthly payments ) , $ 1 , 8 4 0 , 0 0 0

Today, a mortgagor has secured a 25-year (monthly payments), $1,840,000 loan at 5% with four mortgage discount points and a prepayment penalty of 3% of the outstanding loan balance. Eighteen years later, the mortgagor pays off the loan (due to the sale of the property to an investor).
What is the Lender's Effective Yield (LEY) on this loan scenario? (type answer as a percent without the % and to two decimal places)

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