Check my work 7 You are planning to take a round-the-world trip for $80,500. A travel agent has offered to help you finance the trip with a loan that has an APR of 6.2 percent for a 48 month loan. 10 points a. What are the monthly payments on the loan? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the EAR on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) eBook Print References a. Monthly payment b. Effective annual rate %