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You want to buy a new sports coupe for $75,600, and the finance office at the dealership has quoted you a loan with an APR

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You want to buy a new sports coupe for $75,600, and the finance office at the dealership has quoted you a loan with an APR of 8 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.) a. Monthly payment b. Effective annual rate %

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