You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 35-year...

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 35-year mortgage for 85percent of the $4,400,000 purchase price. The monthly payment on this loan will be $18,500.

what is the apr on this loan?

what is the ear on this loan?

Expert Solution

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

As nothing was mentioned excel is used.

jeff jeffy answered 3 months ago

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You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 35-year...

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