< Back to Assignment Attempts: 0 Keep the Highest: 0/2 6. Ch07 Financial Planning Exercise 7 eBook Chapter 7 Financial Planning Exercise 9 Calculating interest and APR of installment loan Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $3,000 installment loan to be repaid in 48 monthly installments of $79.14? Round the answer to 4 decimal places. % per month What is the APR on this loan? Round the answer to 2 decimal places. %