Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 06 Aug 2017 My Price 4.00

mortgage loan

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 32-year mortgage loan for 80 percent of the $3,320,000 purchase price. The monthly payment on this loan will be $16,500.

 

Requirement 1:

What is the APR on this loan? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to2 decimal places (e.g., 32.16).)

 

APR %

 

Requirement 2:

What is the EAR on this loan?(Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

 

EAR %

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Aug 2017 08:08 AM My Price 4.00

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