What is the apr on the given loan

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Question: You have just purchased a new warehouse. To finance the purchase, you have arranged for a 30 year mortgage for 80% of the $ 4,500,000 purchase price. The montly payment on this loan will be $ 27,500. What is the APR on this loan? The EAR? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132062854

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