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You want to buy a new sports coupe for 75,500, and the finance office at the dealership has quoted you an APR of 5.7 percent

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You want to buy a new sports coupe for 75,500, and the finance office at the dealership has quoted you an APR of 5.7 percent for a 60 month loan to buy the car. a. What will your monthly payments be? (Do not round Intermedlate calculatlons and round your answer to 2 declmal places, e.g., 32.16.) b. What Is the effective annual rate on this loan? (Do not round Intermedlate celculetions. Enter your answer es a percent rounded to 2 declmal places, e.g. 32.16.) a. Monthly payment b. Effective annual rate

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