Chapter 06 Pre-Built Problems 06 Pre-Built Problems Saved You have just purchased a new warehouse. To finance the purchase, you've arranged for a 25-year mortgage loan for 75 percent of the $2,700,000 purchase price. The monthly payment on this loan will be $16,800. a. What is the APR on this loan? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What is the EAR on this loan? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual percentage rate b. Effective annual rate