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 30-year mortgage loan for 80 percent of the $2,300,000 purchase price. The monthly payment on this loan will be $15,000.

Required:

Question 1: What is the APR on this loan?

Question 2: What is the EAR?

Note: Provide support for your rationale.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91163400

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