I used Excel to fer my answers.

I put 2800 in A1, 0.108 in A2, 12 in A3 and put =A2/12+A2,*A3/12

for EAR I did, 0.092/12=0076667

(1+0.0076667)^12-1=.0959806382 or9.60

To borrow $2,800, you are offered an add on interest loan at 10.8 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Egun payment $ 233.44 Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round Intermediate calculations and round your final answer to 2 decimal places.) 3 Answer is complete but not entirely correct LEAR 100 X