Question: Monroe Ward Development Corp. would like to purchase a piece of property for $2.0 million. The firm is able to make a down payment of

Monroe Ward Development Corp. would like to purchase a piece of

Monroe Ward Development Corp. would like to purchase a piece of property for $2.0 million. The firm is able to make a down payment of 20% in cash and will finance the balance. The firm can afford to make monthly payments of $12,000 for 30 the highest annual percentage rate they can afford on this loan? (3 pts) years. What is

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