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Very confused may someone show me the solutions and the formula you put into calculator to get them? will thumbs up 8. Problem 28-08 (Annuity

image text in transcribedVery confused may someone show me the solutions and the formula you put into calculator to get them? will thumbs up

8. Problem 28-08 (Annuity Payment and EAR) Annuity Payment and EAR You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 3 years ( 36 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the Ioan's EFF\%? Do not round intermediate calculations. Round your answer to two decimal places. %

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