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March 30, 2015

Homework Help: Finance

Posted by Anonymous on Sunday, September 23, 2012 at 4:00pm.

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 $2,800,000 purchase price. The monthly payment on this loan will be $17,000.
What is the APR and ERA?

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