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You want to buy a new sports coupe for $75,500, and the finance office at...

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Accounting

You want to buy a new sports coupe for $75,500, and the finance office at the dealership has quoted you a 5.7 percent APR loan for 60 months to buy the car.

What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Monthly payment $

What is the effective annual rate on this loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Effective annual rate %

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