Rate of returnAnnuity What is the rate of return on an investment of $9,738 if the investor will receive $2,100 each year for the next 12 years? The rate of return on the investment, r, is %. (Round to two decimal places.) Monthly loan payments Personal Finance Problem Tim Smith is shopping for a used luxury car. He has found one priced at $29,000. The dealer has told Tim that if he can come up with a down payment of $5,600, the dealer will finance the balance of the price at a 7% annual rate over 3 years (36 months). (Hint: Use four decimal places for the monthly interest rate in all your calculations.) a. Assuming that Tim accepts the dealer's offer, what will his monthly (end-of-month) payment amount be? b. Use a financial calculator or spreadsheet to help you figure out what Tim's monthly payment would be if the dealer were willing to finance the balance of the car price at an annual rate of 3.1%