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  3. 4. a borrower takes out a 30-year mortgage loan fo

4. A borrower takes out a 30-year mortgage loan for $100,000 with an interest rate of...

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Finance

4. A borrower takes out a 30-year mortgage loan for $100,000with an interest rate of 6% plus 2 points. What is the effectiveannual interest rate on the loan if the loan is carried for all 30years?
(A) 6.0%
(B) 6.2%
(C) 6.4%
(D) 6.6%

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