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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% of the $2,500,000 purchase price.
You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80% of the $2,500,000 purchase price. The monthly payment on this loan will be $14,300. What is the APR on this loan?
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Handbook Of Financial Intermediation And Banking
Authors: Anjan V. Thakor, Arnoud Boot
1st Edition
0444515585, 978-0444515582
