Question: or ( c ) $ 1 , 4 0 0 , 0 0 0 for 2 7 years? What is the effective annual rate of

or (c) $1,400,000 for 27 years? What is the effective annual rate of each of these loans?
(a) What is the monthly payment if a loan is for $105,000 for 4 years?
$(Round to the nearest cent.)
or (c) $1,400,000 for 27 years? What is the effective annual

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