[Solved] You have just purchased a new warehouse.

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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 percent

You have just purchased a new warehouse. To finance the purchase,

you've arranged for a

30 -

year mortgage loan for

80

percent of the

2, 900, 000

purchase price. The monthly payment on this loan will be

14, 900 .

What is the APR on this loan? The EAR?

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