As per your request below , i am reposting the 4th part of the question. But as per our Q&A guidelines, we must answer the first three sub-parts when multiple questions posted under single question....

As per your request below , i am reposting the 4th part of the question.

But as per our Q&A guidelines, we must answer the first three sub-parts when multiple questions posted under single question. Hence the answer for first three sub-parts provided below. Please repost the remaining subparts with complete question Information."

Consider a car Loan of $ 20,000 to be repaid over 5 years in monthly installments. Annual Interest Rate = 6 %

all detailed formulas should be shown, Financial Calculator not allowed.

d) Calculate the EAR for option (a)[flat rate method] and for option (b)[declining interest method]