What will be the monthly loan payment what will be the, Financial Management

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What will be the monthly loan payment what will be the

Loan amortization and EAR You want to buy a car, and a local bank will lend you $35,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 10% with interest paid monthly.

a. What will be the monthly loan payment? Do not round intermediate steps. Round your answer to the nearest cent.

b. What will be the loan's EAR? Do not round intermediate steps. _ %

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