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You have just purchased a new warehouse. To finance the purchase, you ve arranged for a 3 0 - year mortgage loan for 8 0

You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage loan for 80 percent of the $3,000,000 purchase price. The monthly payment on this loan will be $12,900. What is the APR on this loan?

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