You want to buy a new sports coupe for $$83,500,$ and the finance office at the dealership has quoted you a $6\mathrm{.}5$ percent APR loan for $60$ months to buy the car.

What will your monthly payments be$?($Do not round intermediate calculations and round your final answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Monthly payment

What is the effective annual rate on this loan? $($Do not round intermediate calculations and round your final answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

Effective annual rate