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You have arranged a loan on your new car that will require the first payment today. The loan is for $28,500 and the monthly payments

You have arranged a loan on your new car that will require the first payment today. The loan is for $28,500 and the monthly payments are $525, If the loan will be paid off over the next 60 months, what is the APR of this loan? What is the EAR?

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