Intro You're about to buy a new car for $10,000. The dealer offers you a one-year loan where you pay $855.16 every month for the next 12 months. Since you pay $855.16 * 12 = $10,262 in total, the dealer claims that the loan's annual interest rate is (10,262-10,000)/10,000 = 2.619%. Part 1 18 | Attempt 1/10 for 10 pts. What is the actual effective annual rate? 4+ decimals Submit 18 Attempt 1/10 for 10 pts. Part 2 What rate should the dealer quote by law? 4+ decimals Submit Intro You take out a 30-year fixed-rate mortgage for $800,000 with an interest rate of 7.2% (APR). Attempt 1/10 for 10 pts. Part 1 What is the monthly payment? 0+ decimals Submit Intro You took out a fixed-rate mortgage for $301,000. The mortgage has an annual interest rate of 6% (APR) and requires you to make a monthly payment of $5,819. a Attempt 1/10 for 10 pts. Part 1 How many months will it take to pay off the mortgage? 0+ decimals Submit