im unsure about number 2

You want to buy a new sports car for $55,000 and you make $5000 down payment. The contract is in compounded monthly. What will be your monthly payment? the form of a 60-month annulty at an APR of 6 percent, $$966.64 $1.008.01 O $1.047.90 5992.18 $1.063.30 Which one of the following statements related to loan interest rates is correct? When comparing loans you should compare the effective annual rates. Regardless of the compounding period, the effective annual rate will always be higher than the annual percentage rate. Lenders are most apt to quote the effective annual rate. The annual percentage rate considers the compounding of interest. The more frequent the compounding period, the lower the effective annual rate given a fixed annual percentage rate