You have finally saved up $20,000 for a down payment on the 2019 Dodge Challenger SRT. You must pay the full sticker price of $65,953, plus 5.9% taxes. After making your $20,000 down payment, you will be financing the remainder. The salesperson points out that because of your good credit history, you qualify for a great interest rate and she informs you that your monthly payment on your 78month loan (first payment to be made one month from now) will be $1023.21. (a) What is the annual percentage rate (APR) on the loan? (b) What is the effective annual rate (EAR) on the loan?