You have just purchased a new warehouse. To finance the purchase, youve arranged for a 37-year mortgage loan for 85 percent of the $3,270,000 purchase price. The monthly payment on this loan will be $16,000.

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

APR %

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

EAR %