You want to buy a new sports coupe for $73,500, and the finance office at the dealership has quoted you a 5.5 percent APR loan for 72 months to buy the car. What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) What is the effective annual rate on this loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

You want to buy a new sports coupe for $73,500, and the finance office at the dealership has quoted you a 5.5 percent APR loan for 72 months to buy the car.

 

What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) What is the effective annual rate on this loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

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