Suppose Capital One is advertising a 60-month, 6.31% APR motorcycle loan. If you need to borrow $8 800 to purchase your dream Harley Davidson, what will your monthly payment be? (Note: Be careful not to round any intermediate steps to fewer than six decimal places.) Your monthly payment will be $ (Round to the nearest cent.) Suppose La Trobe Bank is offering a 30-year mortgage with an EAR of 3.3%. If you plan to borrow $170 000, what will your monthly payment be? (Note: Be careful not to round any intermediate steps to fewer than six decimal places.) Your monthly payment will be $ . (Round to the nearest cent.) In a particular year interest rates were 7.85% and the rate of inflation was 12.3% in Australia. a. What was the real interest rate that year? b. How would the purchasing power of your savings have changed over the year? a. What was the real interest rate that year? Real rate of interest was %. (Round to two decimal places.) b. How would the purchasing power of your savings have changed over the year? The purchasing power over that year did the following: A. Increased by 3.96% B. Declined by 4.45% C. Increased by 4.45% D. Declined by 3.96% O o