You bought a house with a $200,000 mortgage. You paid two points ($4,000). The mortgage is a fully amortizing, 30-year, monthly pay in arrears with a 4.50% coupon. Assuming you sell the house at the end of Year 5, what is the banks effective interest rate over this 5 year period?

Group of answer choices

4.27%

4.47%

4.97%

4.37%