Overview, question 22 of 28, 19 complete Tracy is borrowing $8,000 on a six-year loan that has an APR of 9 percent, compounded monthly What is her real cost of borrowing? What will her monthly payments be? Tracy's real cost of borrowing is percent (Round to four decimal places as needed.) Using the effective interest rate, determine the amount of the monthly payment that Tracy must make. Tracy's monthly payment will be $ (Use the time value of money formulas or the TI BA II Plus financial calculator and round your answer to the nearest cent. Do not round your intermediate calculations.)