A loan with the following terms is being made:

Fixed rate, constant monthly payment. Closing date February 9th.

Five percent interest rate. Prepaid interest due at closing.

$75,000 mortgage loan amount.

$1,550 loan discount points to be paid by the buyer or borrower to the lender.

25-year term, monthly payments, fully amortizing.

Calculate the APR for federal truth-in-lending purposes.