Question
To finance the purchase of a new factory, you have arranged a 40 year mortgage loan for 80 percent of then $1,400,000 purchase price. The
To finance the purchase of a new factory, you have arranged a 40 year mortgage loan for 80 percent of then $1,400,000 purchase price. The monthly payment on this loan will be $10,300. What is the APR on this loan? What is the EAR in this case? What is the monthly interest rate here?
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The Final Countdown
Authors: Mr. Aaron R Day ,Eileen Day
1st Edition
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