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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 $2.6
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 $2.6 million purchase price. The monthly payment on this loan will be $14,200. a) What is the APR on this loan? b) What is the EAR on this loan? *Provide answers in percentages with 2 decimal points (i.e. 14.56%)
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
5th edition
1285425758, 978-1305333468, 1305333462, 978-1285425757
