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You want to buy a new sports coupe for $74,700, and the finance office at the dealership has quoted you a loan with an APR

You want to buy a new sports coupe for $74,700, and the finance office at the dealership has quoted you a loan with an APR of 7.1 percent for 72 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.)

Streamsong Credit Bank is offering 6 percent compounded daily on its savings accounts. Assume that you deposit $5,700 today.

a.

How much will you have in the account in 3 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.)

b. How much will you have in the account in 6 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.)
c. How much will you have in the account in 12 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Use 365 days in a year.)

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