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September 3, 2014

Homework Help: SMU

Posted by MAX on Thursday, June 23, 2011 at 4:06pm.

You have just purchased a new warehouse. To finance the purchase, you've arranged for a 30-year mortgage loan for 80 percent of the $2,300,000 purchase price. The monthly payment on this loan will be $15,000. Therefore, the APR on this loan is

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