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20. Two problems concerning consumer loans. a. I just bought a car by borrowing $22,000 that I must repay with 5 annual end-of-year installment payments

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20. Two problems concerning consumer loans. a. I just bought a car by borrowing $22,000 that I must repay with 5 annual end-of-year installment payments of $5109.57. What is the annual interest rate? Timeline: Calculate w/ financial function of calculator (write out all variable inputs) b. Francine borrowed $15,000 for 3 years at an interest rate of 6.50%. What is the dollar value of the monthly payment? Timeline: Calculate with formula for loans

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