You are comparing two different options associated with a 30-year mortgage. The first option is an interest rate of 2.65% with 2 points due at closing and the second option is an interest rate of 3.25% with no points due at closing. What is the marginal cost of borrowing associated with the second option if you expect the loan to be repaid over the full term?

The answer is 19.283% I just need help finding out how to get that.