Question
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage for 80 percent of the $4,300,000 purchase price.
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage for 80 percent of the $4,300,000 purchase price. The monthly payment on this loan will be $18,400. What is the APR on this loan? What is the EAR on this loan?
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Auditing And Assurance Services
Authors: David Ricchiute
5th Edition
0538869526, 978-0538869522
