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Straight bank loan. Right Bank offers EAR loans of 8.79% and requires a monthly payment on all loans. What is the APR for these monthly
Straight bank loan. Right Bank offers EAR loans of 8.79% and requires a monthly payment on all loans. What is the APR for these monthly loans? What is the monthly payment for a loan of (a) $245,000 for 5 years, (b) $445,000 for 14 years, or (c) $1,300,000 for 30 years? What is the APR for these monthly loans? % (Round to three decimal places.)
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