Find the monthly loan payment using financial functions in your calculator

Search this apter 5: Time, Value, Money Save Submit Assignment for Grading Problem 5.08 (Loan Amortization and EAR) Question 4 of 6 Check My Work (1 remaining) eBook You want to buy a car, and a local bank will lend you $15,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 4% 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: $ 250.25 EAR: 4.07 % Hide Feedback Partially Correct