You have just borrowed $200,000 to buy a condo. You will repay
the loan in equal monthly payments of $2,106.45 over the next 25
years.
a-1. What monthly interest rate are you paying
on the loan? (Do not round intermediate calculations. Enter
your answer as a percent rounded to 2 decimal places.)
Monthly
interest rate
%
a-2. What is the APR? (Do not round
intermediate calculations. Enter your answer as a whole
percent.)
APR%
b. What is the effective annual...