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You have just purchased a new warehouse. To finance the purchase, you've arranged for a 3 7 - year mortgage loan for 7 5 percent
You have just purchased a new warehouse. To finance the purchase, you've arranged for
a year mortgage loan for percent of the $ purchase price. The monthly
payment on this loan will be $
a What is the APR on this loan? Do not round intermediate calculations and enter
your answer as a percent rounded to decimal places, eg
b What is the EAR on this loan? Do not round intermediate calculations and enter
your answer as a percent rounded to decimal places, eg
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