Problem: Carrion Luggage is borrowing $3 million for a year. The loan will be repaid in equal monthly payments over the next year. The interest rate is 5.2% APR. Carrion incurs $20,000 of loan setup costs at time zero, and it must also make an insurance payment of 0.15% of the remaining balance at the start of each month. What is the APY for this loan? Be sure to support your response with specifics.