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a. If you take out an $12,000 car loan that calls for 24 monthly payments starting after 1 month at an APR of 19.00%, what is your monthly payment? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly payment $_______. b. What is the effective annual interest rate on the loan? (Do not round intermediatecalculations. Round your answer to 2 decimal places.) Effective annual interest rate=______%
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