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

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You have purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80% of the $2,900,000 purchase price. The monthly payment on this loan will be $15,000. What is the APR on this loan? What is the EAR?

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Corporate Finance

ISBN: 978-0077861759

11th edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan

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Question Posted: Aug 26, 2013 04:23 AM

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

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Corporate Finance

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