6. A borrower takes out a 30-year mortgage loan for $800,000 with an interest rate of 3% and a loan origination fee of $9,000. What is the effective annual interest rate on the loan if the loan is carried for all 30 years?

16. A lender is prepared to provide a loan to borrower Beckie, but would like to use an original fee to ensure a lender's yield of 5.3%. Beckie's home costs $650,000. The lender will provide an 80%, 30 year, fully amortizing loan, with monthly payments, and an interest rate of 4.5%. How much should the origination fee be if the lender knows that Beckie will only stay in the home for 20 years?