FINANCE-Loan amortization and EAR

Loan amortization and EARYou want to buy a car, and a local bank will lend you $10,000. The loan will be fully amortized over 5 years (60 months), and the nominal interest rate will be 9% with interest paid monthly.What will be the monthly loan payment? Round your answer to the nearest cent. What will be the loan’s EAR? Round your answer to two decimal places.

Order your essay today and save 30% with the discount code: KIWI20