Question: Click here to read the eBook: Comparing Interest Rates Click here to read the eBook: Amortized Loans LOAN AMORTIZATION AND EAR You want to buy

Click here to read the eBook: Comparing Interest Rates Click here to read the eBook: Amortized Loans LOAN AMORTIZATION AND EAR You want to buy a car, and a local bank will lend you $40,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 5% with interest paid monthly a. What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent. $ D. What will be the loan's EAR? Do not round intermediate stops. Round your answer to two decimal places

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