You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage

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You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 30-year mortgage loan for 80 percent of the $3.9 million purchase price. The monthly payment on this loan will be $18,250. What is the APR on this loan? The EAR?

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Corporate Finance Core Principles and Applications

ISBN: 978-1259289903

5th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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