Question: please explain each step with calculations. 1. what is the APR for these monthly loans? a) what is the monthly payment if a loan is

please explain each step with calculations.

1. what is the APR for these monthly loans?

a) what is the monthly payment if a loan is for $205,000 for 6 years?

b) what is the monthly payment if a loan is for $455,000 for 13 years?

c) what is the monthly payment if a loan is for $1,300,000 for 29 years?

please explain each step with calculations. 1. what is the APR

Straight bank loan. Right Bank offers EAR loans of 8.73% and requires a monthly payment on all loans. What is the APR for these monthly loans? What is the monthly payment for a loan of (a) $205,000 for 6 years, (b) $455,000 for 13 years, or (c) $1,300,000 for 29 years? What is the APR for these monthly loans? \% (Round to three decimal places.)

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