Question: Please show answer in excel with formulas 3. You have finally saved up $20,000 for a down payment on the 2019 Dodge Challenger SRT. You

Please show answer in excel with formulas 3. You have finally

Please show answer in excel with formulas

3. You have finally saved up $20,000 for a down payment on the 2019 Dodge Challenger SRT. You must pay the full sticker price of $60,945, plus 5.9% taxes. After making your $20,000 down payment, you will be financing the remain- der. The salesperson points out that because of your good credit history, you qualify for a great interest rate and she informs you that your monthly payment on your 66-month loan (first payment to be made one month from now) will be $773.30. (a) What is the annual percentage rate (APR) on the loan? (2 pts.) (b) What is the effective annual rate (EAR) on the loan? (2 pts.)

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