A payday loan is structured to obscure the true interest rate you are paying. For example, in Washington, you pay a \$34 "fee" for a two-week $205 payday loan (when you repay the loan, you pay \$239). What is the effective annual interest rate for this loan? (Assume 26 bi-weekly periods per year.) The effective annual interest rate is \%. (Round to two decimal places.) Suppose Capital One is advertising a 60 -month, 5.06% APR motorcycle loan. If you need to borrow $7,900 to purchase your dream Harley-Davidson, what will be your monthly payment? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your monthly payment will be $ (Round to the nearest cent.)