Annual interest rate applicable

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A $618,478 warehouse if being purchased by your company. The deal requires a down payment of 109,363 with the remainder of the purchase price paid over 20 years, payments in advance. The annual interest rate applicable is 6.58. What monthly payment in advance will be required to pay off this loan?

Directions as to how you input this info into a financial calculator is prep’s.

Reference no: EM13720734

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