You purchase a home with a price of $230,000. You put a downpayment of $30,000 and borrow the rest from the bank. Your monthly payments on this loan are $954.83. This is a fully amortizing loan, where the loan will be fully paid off after the last payment on the loan. If this is a 30 year fixed rate mortgage, compute the annual interest on this loan.

a. 3.999%

b. 3.92%

c. 0.33%

d. 33.3%