you want to buy a house and a local bank will lend you $100,000 loan will be fully amortized over 20 years 240 months and the nominal interest rate will be 0.1000 with interest paid monthly

what will be the loans EAR?

Question 15 (1 point) You want to buy a house, and a local bank will lend you $100,000. The loan will be fully amortized over 20 years (240 months), and the nominal interest rate will be 0.1000 with interest paid monthly. What will be the loan's EAR? (Answer in decimal form to the nearest basis point. That is, 1/100th of a percent, or to four decimal places. Six and one-half percent will be entered as 0.0650) Your