You have just purchased a new warehouse. To finance the purchase, youve 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 $3,400,000 purchase price. The monthly payment on this loan will be $16,500. What is the APR on this loan? The EAR?

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Fundamentals of Corporate Finance

ISBN: 978-1260153590

12th edition

Authors: Stephen M. Ross, Randolph W Westerfield, Robert R. Dockson, Bradford D Jordan

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Question Posted: Jul 17, 2019 09:36 AM

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

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Here we are finding the interest rate for an annuity cash flow We are given the PVA the number of pe...View the full answer

Fundamentals of Corporate Finance

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