You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage loan for 80 percent of the $3,700,000 purchase price. The monthly payment on this loan will be $17,800.

a.	What is the APR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

In excel I did "=RATE(30, -17800*12, 3700000)" = 3.99% and this was wrong

I also tries for A "=RATE(30*12, -17800, 3700000)" = .34% and this was wrong too

Can you please explain how to find the APR and why the two attempts above are incorrect.