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You have borrowed $1140761 for a home loan from M Bank. The loan has a maturity of 25 years with a 6% nominal annual interest

You have borrowed $1140761 for a home loan from M Bank. The loan has a maturity of 25 years with a 6% nominal annual interest rate, compounded monthly. Monash Bank charges points on any home loan on the day of issuing. How many points should the bank charge you in order to achieve an annual effective yield of 7.5%?

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