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You want to buy a new sports coupe for $79,500 and the finance office at the dealership has quoted you an APR of 5.8 percent

You want to buy a new sports coupe for $79,500 and the finance office at the dealership has quoted you an APR of 5.8 percent for a 60 month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?

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