Question: 8. Ann is looking for a fully amortizing 30-year Fixed Rate Mortgage for $1,250,000 with monthly payments. Mortgage A has a 4.38% interest rate and

8. Ann is looking for a fully amortizing 30-year Fixed Rate

8. Ann is looking for a fully amortizing 30-year Fixed Rate Mortgage for $1,250,000 with monthly payments. Mortgage A has a 4.38% interest rate and requires Ann to pay 1.5 points upfront. Assuming Ann makes payments for 2 years, then immediately pays the remaining balance, what is Ann's IRR for mortgage A

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