Right Bank offers EAR loans of 8.89%and requires a monthly payment on all loans. What is the APR for these monthly​ loans? What is the monthly payment for a loan of ​(a​) $245,000 for 7​ years ​(b​) $450,000 for 11 years, or (c​) $1,050,000 for 30​ years?
What is the APR for these monthly​ loans? (round to three decimal places.)
What is the monthly payment if a loan is for $245,000 for 7 ​years? (round to three decimal places.)
What is the monthly payment if a loan is for $450,000 for 11 ​years? (round to three decimal places.)
What is the monthly payment if a loan is for $1,050,000 for 30 years? (round to three decimal places.)