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You have just borrowed 140,000 to buy a condo. You will repay the loan in...

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Accounting

You have just borrowed 140,000 to buy a condo. You will repay the loan in equal monthly payments of 1474.51 over the next 25 years.

a. what monthly interest rate are you paying on the loan?

b. APR?

c. Effective annual rate?

d. What rate is the lender more likely to Quote on the loan?

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