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6. Gloria wants to buy a car that costs $20,500. Her dad will loan her...

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6. Gloria wants to buy a car that costs $20,500. Her dad will loan her the money at 5.75% annual interest as long as she makes monthly payments over the next 10 years. How much will her monthly payment be? PV PMT FV 7. Austin borrowed $5,000 from his father to purchase a mountain bike. He paid back $6,800 to his father at the end of 4.5 years. What was the average annual compound rate of interest on the loan from his father? I/Y PV PMT

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