What is the apr and ear on the loan

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Reference no: EM132062617

Question: You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage for 80 percent of the $3,200,000 purchase price. The monthly payment on this loan will be $17,300.

What is the APR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

What is the EAR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Reference no: EM132062617

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