Question: please answer in formulas and round decimals to two decimal places for interest rates and dollar amounts 2. Baruch Baranovich is purchasing today a new

please answer in formulas and round decimals to two decimal places

please answer in formulas and round decimals to two decimal places for interest rates and dollar amounts

2. Baruch Baranovich is purchasing today a new Rolls Royce for $225,000, and the finance office at the dealership is quoting an APR of 7.97% compounded monthly for an eight-year loan in order to buy the car. If his first payment is due one month from today, what will his monthly payment be over the period of the loan ? What is the Effective Annual Rate of the loan

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