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1 3 You want to buy a new sports coupe for $ 8 4 , 5 0 0 , and the finance office at the

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You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car.
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a. What will your monthly payments be?(Do not round intermediate calculations and points round your answer to 2 decimal places, e.g.,32.16.)
b. What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)
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a. Monthly payment
b. Effective annual rate
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