Effective annual rate?

https hewco Help Save &Exit Sub #2b (annuities) 0 Seved Check my work You want to buy a new sports coupe for $80,500, and the finance office at the dealership has quoted you an APR of 6.2 percent for a 48 month loan to buy the car. a. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) o1 b. What is the effective annual rate on this loan? (Do not round intermedlate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) a. Monthly payment b. Effective annual ate 1,897.95 FS