Note: Please show the equation or inputs when you answer the following

numerical problems, otherwise will receive reduction in grade.

You have just purchased a new apartment. To finance the purchase, you've arranged for a $20-$

year mortgage loan for $70\%$ of the $$5,000,000$ purchase price. The monthly payment on this loan

will be $$25,075.$

A$.$ What is APR on this loan?

B$.$ What is the effective annual rate $($EAR$)?$