Ex. 5	If you take out an $10,000 car loan that call for 60 monthly payments at
	of $250 each, what is your APR? What is the EAR?
	PV of loan
	Loan period		months
	Monthly payment
	Interest rates
	No. of compounding		times per year
	Monthly rate
	APR
	EAR
Ex. 6	Prepare an amortization schedule for the loan given in Ex 5.
	Draw a chart of interest payments and principal repayments.
Month	Beginning Balance	Payment	Interest pmt	Principal pmt	Ending Balance
1