Problemyou have just purchased a new warehouse to finance, Ask an Expert

Finance

Problem:

You have just purchased a new warehouse. To finance the purchase, you've arranged for a 38-year mortgage loan for 70 percent of the $3,380,000 purchase price. The monthly payment on this loan will be $17,100.

Task:

Question: What is the APR and EAR on this loan?

Note: Please show how you came up with the solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91149252

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