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Q3) You are looking for a $550,000 mortgage loan for 10-year you would like to have monthly payment. Your Bank told you that currently it's

Q3) You are looking for a $550,000 mortgage loan for 10-year you would like to have monthly payment. Your Bank told you that currently it's charging a quarterly effective rate of 4%.

What is the APR rate?

What is your monthly payment should be?

How much interest would you have paid at the end of your 10-year mortgage loan?

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