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March 28, 2015

Homework Help: finance

Posted by Anonymous on Sunday, January 19, 2014 at 9:21pm.

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 25-year mortgage for 75 percent of the $3,600,000 purchase price. The monthly payment on this loan will be $17,700.

What is the APR on this loan?

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