The dealership from which you purchased your boat financed your purchase. You paid $8,500 for the boat. You must make monthly payments of $296.74 to the dealership over the next 3 years. What rate of interest (APR) is the dealership charging you? a) 16.63% Ob) 3.49% O c) 15.50% Od) 12.36% Oe) 10% Question 8 (2 points) In the mid- to late 1990s, you had a savings account at your local bank. The account paid an outstanding annual percentage rate (APR) on your deposit of 5.75%. If the interest was compounded quarterly, what effective rate of interest (EAR) were you earning? a) 5.88% Ob) 5.83% Oc) 5.75% d) 5.90%