You borrow $40,000 to purchase a car. The loan terms are 60 months (the payments occur at the end of each month) at 5.7\% APR (annual percentage rate). What is the effective annual rate (EAR) for this loan? A) 5.9% B) 6.03% C). 5.95% D) 5.85% E) 5.99% You borrow $40,000 to purchase a car. The loan terms are 60 months (the payments occur at the end of each month) at 5.7\% APR (annual percentage rate). What is the constant payment you will have to make each month? A) $934.90 B) $689.90 C) $560.98 D) $767.74 E) $850.87 You borrow $40,000 to purchase a car. The loan terms are 60 months (the payments occur at the end of each month) at 5.7% APR (annual percentage rate). In whole dollars, what is total amount of interest you will pay on this loan? A) $6,064.67 B) $10,455.50 C) $7,560.85 D) $5,899.53 E) $4,377.61 You borrow $40,000 to purchase a car. The loan terms are 60 months (the payments occur at the end of each month) at 5.7\% APR (annual percentage rate). What is the interest component out of the first payment? A) $145.52 B) $546.73 C) $234.98 D) $356.90 E) $190.00 You borrow $40,000 to purchase a car. The loan terms are 60 months (the payments occur at the end of each month) at 5.7\% APR (annual percentage rate). What is the principal component out of the first payment? A) $610.87 B) $577.74 C). $356.86 D) $490.87 E) $546.61