a

$24000$

$,$

$$five

$-$

year car loan to being repaid by monthly installments

$($

first payment due at the end of the first month

$)$

$.$

$$The loan has an annual nominal

$6$

$\%$

$$interest rate, convertible monthly. In order to pay an integer dollar amount, the first

$59$

$$installments are set at

$465$

$.$

$$determine whether the last payment is a balloon or drop payment, and find its amount