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4. O a. If you take out an $11,500 car loan that calls for 60 monthly payments starting after 1 month at an APR of

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4. O a. If you take out an $11,500 car loan that calls for 60 monthly payments starting after 1 month at an APR of 13 80% what is your monthly payment? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Monthly payment b. What is the effective annual interest rate on the loan? (Do not round intermediate calculations Round your answer to 2 decimal places.) Effective annual interest rate

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