(worth 2x) John wants to buy a property for $105,000 using an 80 percent loan for $84,000. A lender indicates a fully amortizing loan with a 30.xear maturity (360 payments) is available for 8 percent interest and a $3,500 origination fee. 5. What is the net amount the lender will disburse at closing? What is the effective interest rate for the borrower, assuming the loan remains in place for the full term (i.e. 360 months)? If John pays off the loan after 5 years, what is the effective interest rate? Alternatively, assume the lender also imposes a prepayment penalty of 2 percent of the then outstanding loan balance and John pays off the loan after 5 years. What is the effective interest rate? a. b. c. d