The next two problems $($problems $6-7)$ are loan payment problems. In answering the questions, assume that P$/$Y$=1,$ so that N and I$/$Y relate to the number of periods and the period interest rate, respectively.

Problem $6($Loan Payments, $11$ points in total$).$ You are buying a Ford $150$ with purchase price $($in total$)$ $$35,000.$ You have $$10,000$ for the down payment and are borrowing the remaining $$25,000$ with a $5$ year loan. The loan has APR $6\%$ with equal monthly payments $($monthly compounding, m$=12)$ starting one month after you take possession of the Ford. What is the monthly payment on the loan? $($Hint: the monthly payments fully pay off the loan by the end of the $5$ years.$)$

Write down your calculator entries for N$,$ I$/$Y$,$ PV$,$ FV$,$ and your answer from CPT PMT$.$ You will record your answers in three parts to this problem.

Part A $($Here$).$ Please indicate your calculator entry for N and I$/$Y$,$ where N is a simple integer $($e$.$g$.,10$ for $10$ periods$),$ and I$/$Y is recorded as x$.$x $($to one decimal, recorded as percentage points per the calculator, e$.$g$.,5\mathrm{.}0$ for $5\%).$