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a. If you take out an $31,000 car loan that calls for 5 annual payments starting at the end of the year. The car

 

a. If you take out an $31,000 car loan that calls for 5 annual payments starting at the end of the year. The car loan has an interest rate of 16.20%, what is your annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual Payments $ .b If you take out an $31,000 car loan that calls for 5 annual payments starting at the beginning of the year. The car loan has an interest rate of 16.20%, what is your annual payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Annual Payments

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