Question
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 35-year mortgage loan for 85 percent of the $3,800,000 purchase
| You have just purchased a new warehouse. To finance the purchase, youve arranged for a 35-year mortgage loan for 85 percent of the $3,800,000 purchase price. The monthly payment on this loan will be $17,900. |
| What is the APR on this loan? |
| What is the EAR on this loan? |
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Economics Of Money Banking And Financial Markets
Authors: Frederic Mishkin
10th Global Edition
0273765736, 978-0273765738
