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Finance

Problem:

You have just purchased a new warehouse. To finance the purchase, you have arranged for a 30-year mortgage loan for 80 percent of the $3,200,0000 purchase price. The monthly payment on the loan will be $15,300.

Required:

Question 1: What is the EAR of this loan?

Note: Explain all calculation and formulas.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91148240

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