Loan Payments

a$.$ If you take out an $$34,000$ car loan that calls for $60$ monthly payments starting after $1$ month at an APR of $15\mathrm{.}00\%,$ what is your monthly payment? $($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Monthly payment

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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

$\%$