Question: Solve using the formulas not excel: You have just purchased a new warehouse. To finance the purchase, you ve arranged for a 3 0 -

Solve using the formulas not excel:
You have just purchased a new warehouse. To finance the purchase, youve arranged for a 30-year mortgage loan for 80 percent of the $2.6 million purchase price. The monthly payment on this loan will be $14,200. What is the APR on this loan? The EAR?

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