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5.) A pottery factory purchases a continuous belt conveyor kiln for $ 47 comma 000. A 8.1% APR loan with monthly payments is taken out

5.) A pottery factory purchases a continuous belt conveyor kiln for $ 47 comma 000. A 8.1% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $ 539.06, over what term is this loan being paid?

6.) A bank offers a loan that will requires you to pay 6% interest compounded semiannually. Which of the following is closest to the EAR charged by the bank?

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