a$.$

If you take out an $$27,500$ car loan that calls for $36$ monthly payments starting after $1$ month at an APR of $15\mathrm{.}70\%,$ 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