Question
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 35-year mortgage for 85 percent of the $4,100,000 purchase price.
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 35-year mortgage for 85 percent of the $4,100,000 purchase price. The monthly payment on this loan will be $18,200. what is the apr and ear of this loan?
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
