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Keiko takes out a loan for $11,512.80. The term of the loan is 4 years, and she will make monthly payments. The interest rate on

Keiko takes out a loan for $11,512.80. The term of the loan is 4 years, and she will make monthly payments. The interest rate on the loan is 7.950% compounded daily.

a) What is the effective interest rate per payment period?

b) If Keiko is going to repay the loan with level payments, what is the monthly payment amount?

c) Fill in the first 3 rows of the loan amortization table.

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