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You have saved up 2 0 % down payment for buying your dream condo in downtown Boston and a price of $ 1 , 8

You have saved up 20% down payment for buying your dream condo in downtown Boston and a price of $1,800,000. Bank of Boston has looked at your credit and approved a 20 year loan for the remaining purchase price. The monthly payments are negotiated with the bank at $10,800 per month. Please solve the following:Calculate the APRCalculate the Effective Annual Rate (EAR)7.67 percent; 8.03 percent 6.58 percent; 7.14 percent 6.58 percent; 6.78 percentO 7.67 percent; 7.94 percent 7.72 percent; 8.03 percent
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