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a. If you take out an $34,500 car loan that calls for 60 monthly payments starting after 1 month at an APR of 9.40%, what

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a. If you take out an $34,500 car loan that calls for 60 monthly payments starting after 1 month at an APR of 9.40%, 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 1%

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