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Please explain this to me. Thank you eBook Annuity Payment and EAR You want to buy a car, and a local bank will lend you

Please explain this to me. Thank you

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eBook Annuity Payment and EAR You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places

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