Problem $5-57$ Loan Payments $($LO$4)$

You take out an $$8,700$ car loan that calls for $36$ monthly payments starting after $1$ month at an APR of $9\%.$

a$.$ What is your monthly payment?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

b$.$ What is the effective annual interest rate on the loan?

Note: Do not round intermediate calculations. Enter your answer as a percent roundec to $2$ decimal places.

c$.$ Now assume the payments are made in three annual year$-$end installments. What annual payment would have the same present value as the monthly payment you calculated?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

$\backslash$table$[[$a$.$ Monthly payment,,$],[$b$.$ Effective annual interest rate,,$\%$