Question: Ann is looking for a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500,000. She takes a mortgage with 4.38% interest rate

Ann is looking for a fully amortizing 30 year Fixed Rate Mortgage with monthly payments for $4,500,000. She takes a mortgage with 4.38% interest rate that requires Ann to pay 2 points upfront. Assuming Ann makes payments for 30 years, what is Anns annualized IRR?

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