You want to buy a new sports coupe for $84,600, and the finance office at the dealership has quoted you a 7.1 percent APR loan for 48 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan? $2,017.84; 7.24 percent $2,017.84; 7.29 percent $2,017.84; 7.34 percent $2,029.78; 7.29 percent $2,029.78; 7.34 percent