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a If you take out an $7,300 car loan that calls for 60 monthly payments starting after 1 month at an APR of 12%, what

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a If you take out an $7,300 car loan that calls for 60 monthly payments starting after 1 month at an APR of 12%, 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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