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Assumeyou take out an $7,400car loanthat calls for 60 monthly payments of $180 each: a. What is the APR % ofthe loan? b. What is

Assumeyou take out an $7,400car loanthat calls for 60 monthly payments of $180 each:

a.

What is the APR % ofthe loan?

b.

What is the effective annual interest rate on theloan?

Annual interest rate %

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