Question: Roberto is purchasing a house for $ 2 7 5 , 0 0 0 and is making a $ 4 0 , 0 0 0

Roberto is purchasing a house for $275,000 and is making a $40,000 down payment. The balance is being financed over 15 years at 4.25%. An $8,000 origination fee will be charged when closing the loan. What is the APR (true cost of financing) on the loan? Enter your answer in decimal format, using four decimal places.

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