please calculate this question and provide answers for everything You have an outstanding student loan with required payments of $ $500$ per month for the next four years. The interest rate on the loan is $8\%$ APR$($monthly$).$ You are considering making an extra payment of $ $175$ today$($that is$,$ you will pay an extra $ $175$ that you are not required to$$ pay$).$ If you are required to continue to make payments of $ $500$ per month until the loan is paid$$ off, what is the amount of your final$$ payment? What effective rate of return$($expressed as an APR with monthly$$ compounding$)$ have you earned on the $ $175?$

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Part $1$

If you are required to continue to make payments of $ $500$ per month until the loan is paid$$ off, what is the amount of your final$$ payment?$$

The amount of your final payment is $$$

$$

enter your response here.$($Round to the nearest$$ cent.$)$

Part $2$

What rate of return$($expressed as an APR with monthly$$ compounding$)$ have you earned on the $ $175?$

Effective rate is

$$

enter your response here$\%.($Round to the nearest$$ integer.$)$