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

Ann is looking for a fully amortizing 30-year Fixed Rate Mortgage with monthly payments for $1,250,000.

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 sells the house and pays the bank the balance, what is Anns annualized IRR from mortgage A?

please solve it with a full process, go step by step.

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