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You want to buy a new sports coupe for $83,500, and the finance office at the dealership has quoted you a 6.5% APR loan for

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You want to buy a new sports coupe for $83,500, and the finance office at the dealership has quoted you a 6.5% APR loan for 60 months to buy the car. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) What will your monthly payments be? (Omit $ sign in your response.) Monthly payment What is the effective annual rate on this loan? %% Effective annual rate

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