What is the apr on this loan and ear on this loan

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Reference no: EM131300236

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 35-year mortgage loan for 85 percent of the $3,800,000 purchase price. The monthly payment on this loan will be $17,900.

What is the APR on this loan?

What is the EAR on this loan?

Reference no: EM131300236

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