eBook You want to buy a car, and a local bank will lend you $20,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 8% with interest paid monthly. What will be the monthly loan payment? What will be the loan's EAR? Do not round intermediate calculations. Round your answer for the monthly loan payment to the nearest cent and for EAR to two decimal places. Monthly loan payment: $ EAR: Grade It Now Save continue Continue without saving eBook Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent. a. An initial $300 compounded for 1 year at 3%. b. An initial $300 compounded for 2 years at 3%. C. The present value of $300 due in 1 year at a discount rate of 3% d. The present value of $300 due in 2 years at a discount rate of 3%. Grade It Now Save & Continue Continue without saving