Problem 3-66 (algorithmic) Question Help A house can be purchased for $155,000, and you have $25,000 cash for a down payment. You are considering the following two financing options: + Opcion 1. Gelling a ne slandard rarigage with a 7.5% (APR) interest and a 30-year terin + Opcon 2. Assurning the seler's old mortgage, which has an interest rate of 5.5% (APR), a remaining term of 25 years (the orginal term was 30 years), a remaining balance of 537.217, and payments of S597 per month. You can obtain a second mortgage for the remaining balance $32,793) from your credit union at 9% (APRI with a 10-year repayment period. (a) What is the effective interest rate of the combined inulgage? The effective interest rate of the combined mortgage is Round to two decimal places Problem 3-66 (algorithmic) Question Help A house can be purchased for $155,000, and you have $25,000 cash for a down payment. You are considering the following two financing options: + Opcion 1. Gelling a ne slandard rarigage with a 7.5% (APR) interest and a 30-year terin + Opcon 2. Assurning the seler's old mortgage, which has an interest rate of 5.5% (APR), a remaining term of 25 years (the orginal term was 30 years), a remaining balance of 537.217, and payments of S597 per month. You can obtain a second mortgage for the remaining balance $32,793) from your credit union at 9% (APRI with a 10-year repayment period. (a) What is the effective interest rate of the combined inulgage? The effective interest rate of the combined mortgage is Round to two decimal places