Byrne Co. wants to borrow $200,000 on an add-on basis at a simple rate of 8.00% to be paid in nine monthly instaliments. Byrne Co. will receive the $200,000 upon approval of the loan and will pay back the principal and interest over the life of the loan. Calculate the monthil interest payment, the monthly principal parment, the approximate annual percentage rate (APR), and the approximate effective annual rate (EAR) of this add-on loan: (Note: Do not round intermediate calculations, Round dollar values to the nearest whole doviar. Round percentages to two decimal places.)