Business, 17.10.2019 18:30, Cannon2793

You have just purchased a new warehouse. to finance the purchase, you’ve arranged for a 34-year mortgage loan for 80 percent of the $3,240,000 purchase price. the monthly payment on this loan will be $15,700. a. what is the apr on this loan? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.) b. what is the ear on this loan? (do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e. g., 32.16.)

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You have just purchased a new warehouse. to finance the purchase, you’ve arranged for a 34-year mort...