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If you take out an $7,500 car loan that calls for 36 monthly payments starting after 1 month at an APR of 18.20%, what is

If you take out an $7,500 car loan that calls for 36 monthly payments starting after 1 month at an APR of 18.20%, what is your monthly payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Monthly payment

b.	What is the effective annual interest rate on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Effective annual interest rate

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