question1.

You have just purchased a new warehouse. To finance the purchase, youve arranged for a 25-year mortgage for 75 percent of the $5,000,000 purchase price. The monthly payment on this loan will be $28,000. (Do not round intermediate calculations. Round the final answers to 2 decimal places.)

What is the APR on this loan? Annual percentage rate %

question2.

A 10-year annuity pays $2,150 per month, and payments are made at the end of each month. If the interest rate is 12 percent compounded monthly for the first five years, and 8 percent compounded monthly thereafter, what is the PV of the annuity? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)

Present value $

What is the EAR on this loan? Effective annual rate %