Home loans typically involve "points," which are fees charged by the lender. each point charged means that the borrower must pay 1% of the loan amount as a fee. for example, if the loan is for $100,000 and 2 points are charged, the loan repayment schedule is calculated on a $100,000 loan but the net amount the borrower receives is only $98,000. assume the interest rate is 1% per month. what is the effective annual interest rate charged on such a loan, assuming loan repayment occurs over 360 months?