What is the effective interest rate for the following loan assuming no prepayment? - Property purchase price of $500,000 - Property expected NOI of $60,000 - LTV of 80% - Annual interest rate of 7.5% - 3 points paid at closing - 25 year term with monthly payments Enter your answer as a whole number rounded to 2 decimal places with no punctuation other than a decimal point. For example, if you think the answer is 23.4567%, enter 23.46