Bondi Beachwear Pty Ltd Has Just Purchased a New Warehouse

Bondi Beachwear Pty Ltd has just purchased a new warehouse.To finance the purchase,they arranged for a 25-year mortgage for 80 per cent of the $1 800 000 purchase price.The monthly payment on this loan will be $10 800.What is the APR? What is the EAR?

A) 7.67 per cent;7.94 per cent
B) 7.67 per cent;8.03 per cent
C) 7.72 per cent;7.94 per cent
D) 7.72 per cent;8.03 per cent
E) 7.75 per cent;8.03 per cent