Question: ( Type B . 9 ) Mr . Tramp made a mortgage 5 years ago for $ 8 5 , 0 0 0 at 6

(Type B.9) Mr. Tramp made a mortgage 5 years ago for $85,000 at 6 percent interest and a 15-year term. Rates have now risen to 8 percent for an equivalent loan. Mr. Tramp's lender is willing to discount the loan by $2,000 if he will prepay the loan. What rate of return would Mr. Tramp receive by prepaying the loan? (Note: Your answer should have four decimal places.)
( Type B . 9 ) Mr . Tramp made a mortgage 5 years

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