do you use APR and EAR in finance calculations? I have a question here and unsure how to solve it. I am in my APR and EAR unit and I am assuming I need to use both. You decide to purchase a 500,000 dollar condo in Toronto which is financed with a mortgage that is amortized over 25 years. You have a 35% down payment and pay interest of 4% (APR compounded semi-annually). What is your monthly mortgage payment

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Loans

A loan is a term that we are all familiar with. The processing of loans is one of the most important functions of a bank. It keeps our economy stable and facilitates the implementation of monetary policies. Let's take a look at the different forms of loans and get some answers to some common questions.