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Costco just purchased a new warehouse. To finance the purchase, the company arranged for a 30 -year mortgage loan for $5,000,000 purchase price. The quarterly

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Costco just purchased a new warehouse. To finance the purchase, the company arranged for a 30 -year mortgage loan for $5,000,000 purchase price. The quarterly payment on this loan will be $80,000. 1. What is the quarterly rate on the loan? 2. What is the APR on the loan? 3. What is the effective annual rate on this loan

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