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You want to buy a new sports coupe for $84,500, and the finance office at...

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Finance

You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 4.7 percent for a 60-month loan to buy the car.

a. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent round

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