You want to buy a new sports coupe for $74,000, and the finance office at the dealership has quoted you a loan with an APR of 6.4 percent for 48 months to buy the car.
a.	What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b.	What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Monthly Payment? Effective Annual Rate?