You want to buy a new car for The bank has quoted you a rate of The term of the loan is What will your monthly payments be and what is the EAR on the loan? You want to borrow The discount rate offered by the lender is The term of the loan is Interest is compounded annually. How much interest will you pay in year 3 of this 5 year loan. You will need to crate a loan amortization schedule fo rthe 5 year loan. 7.30% 72 months $99,000 from your bank for a sailboat. 7.15% annually 5