Question

You have just purchased a new warehouse. To finance the purchase, you’ve arranged for a 25-year mortgage loan for 75 percent of the $2,700,000 purchase price. The monthly payment on this loan will be $16,800. a. What is the APR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the EAR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Answer #1

You have just purchased a new warehouse. To finance the
purchase, you’ve arranged for a 35-year mortgage for 85 percent of
the $4,100,000 purchase price. The monthly payment on this loan
will be $18,200. what is the apr and ear of this loan?

You have just purchased a new warehouse. To finance the
purchase, you’ve arranged for a 30-year mortgage for 80 percent of
the $3,700,000 purchase price. The monthly payment on this loan
will be $17,800.
What is the APR on this loan?
What is the EAR on this loan?

You have just purchased a new warehouse. To finance the
purchase, you’ve arranged for a 30-year mortgage loan for 80
percent of the $3,400,000 purchase price. The monthly payment on
this loan will be $17,500. What is the APR on this loan? What is
the EAR on this loan?

You have just purchased a new warehouse. To finance the
purchase, you've arranged for a 30-year mortgage loan for 80
percent of the $2,800,000 purchase price. The monthly payment on
this loan will be $17,000. a. What is the APR on this loan?
b. What is the EAR?

You have just purchased a new warehouse. To finance the
purchase, you’ve arranged for a 30-year mortgage loan for 80
percent of the $3,000,000 purchase price. The monthly payment on
this loan will be $14,000 starting 1 month from today.
a) What is the periodic rate on this loan?
b) What is the nominal rate of this loan?
c) What is the effective rate on this loan?
If you use a financial calculator please show the steps.
Thank you.

You have just purchased a new warehouse. To finance the
purchase, you have arranged for a 30-year mortgage loan for 80% of
the $3,400,000 purchase price. The monthly payment on this loan
will be $17,500. What is the monthly compounded APR on this loan?
What is the EAR?
I need a proper solution with formula and not financial
calculator.

Bulk Purchases just purchased a new warehouse. To finance the
purchase, the firm arranged for a 25-year mortgage for 80 percent
of the $1,800,000 purchase price. The monthly payment is $10,800.
What is the APR? The EAR?

3. You have purchased a new warehouse for $4 million. To finance
the purchase, you have arranged for a 30-year mortgage for 75
percent of the purchase price. The monthly payment on the loan will
be $30,000 with zero balance after the final payment.
a. What is the APR on the loan?
b. What is the EAR?

You want to buy a new sports coupe for $75,500, and the finance
office at the dealership has quoted you a loan with an APR of 7.9
percent for 72 months to buy the car.
a.
What will your monthly payments be? (Do not round
intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
b. What is the effective annual rate on this loan? (Do
not round intermediate calculations and enter your answer as a
percent rounded...

You want to buy a new pickup for $42,854, and the finance office
at the dealership has quoted you an 8.4% APR loan for 6 years of
monthly payments. What is the effective annual rate on this loan?
(Do not include the percent sign (%). Enter rounded answer as
directed, but do not use the rounded numbers in intermediate
calculations. Round your answer to 2 decimal places (e.g.,
32.16).)

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