You take out an $$8,500$ car loan that calls for $60$ monthly payments starting after $1$ month at an APR of $12\%.$

a$.$ What is your monthly payment?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

b$.$ What is the effective annual interest rate on the loan?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.

c$.$ Now assume the payments are made in five annual year$-$end installments. What annual payment would have the same present value as the monthly payment you calculated?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.