Question: For the problems in this part, use the following information: You want to buy a car with a five-year loan of $20,300. The loan has

For the problems in this part, use the following information: You want to buy a car with a five-year loan of $20,300. The loan has an APR of 5.09%.

1. Rounded to the nearest dollar, your monthly payments will be $

2. Rounded to two decimal places as a percent, the effective rate on the loan is $

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