Daniel wants to buy a new BMW sports coupe for $74,400, and the finance office at the dealership has quoted him a loan with an APR of 6.8 percent for 48 months to buy the car. What will his monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.. 32.16.) $ Monthly payment What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.. 32.16.) Effective annual rate 4