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Annuity Payment and EAR You want to buy a car, and a local bank will lend you dollar 20, 000. The loan would be fully

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Annuity Payment and EAR You want to buy a car, and a local bank will lend you dollar 20, 000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 12 percentage with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. Dollar What is the loan's EFF percentage? Round your answer to two decimal places. percentage

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