If you take out an $8,700 car loan that calls for 36 monthly payments starting after 1 month at an APR of 9%, 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

%