The monthly mortgage-loan payment on your house is 1660, Financial Management

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The monthly mortgage-loan payment on your house is 1660

The monthly mortgage-loan payment on your house is $1660. The loan is a 30-year loan and its interest rate is 3.6% APR.

(a) How much did you borrow?

(b) What is the effective annual rate (EAR) on the loan?

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Financial Management: The monthly mortgage-loan payment on your house is 1660

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Financial Management: The monthly mortgage-loan payment on your house is 1660

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