You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage

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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 percent of the $2,800,000 purchase price. The monthly payment on this loan will be $17,000

Required:

(a) What is the APR on this loan?

(b) What is the EAR?

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Essentials Of Corporate Finance

ISBN: 9780073405131

6th Edition

Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan

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Question Posted: Aug 05, 2013 03:15 AM

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You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage

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A Amount of loan 2800000 80 2240000 PV ...View the full answer

Essentials Of Corporate Finance

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