You have just purchased a new manufacturing plant. To finance the purchase, you've arranged for a 35-year mortgage loan for 85 percent of the $4,400,000 purchase price. The monthly payment on this loan will be $18,500. a. What is the APR on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the EAR on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Annual percentage rate b. Effective annual rate % % You have just purchased a new manufacturing plant. To finance the purchase, you've arranged for a 35-year mortgage loan for 85 percent of the $4,400,000 purchase price. The monthly payment on this loan will be $18,500. a. What is the APR on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the EAR on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Annual percentage rate b. Effective annual rate % %