6 Safari File Edit View History Bookmarks Window Help . SunSep48106PM . V ' ' H eztomheducationcom M Question 7 - Homework #02 - Connect :l een Shot Homework #02 0 Help Save; Exit 5mm,\" 0. 555 PM Check my work ' ; untitled You are looking at a oneyear loan of $17,000. The interest rate is quoted as 7.6 percent plus four points. A point on a loan is 1 percent (one percentage point) of the loan amount. Quotes similarto this one are common with home mortgages. The interest rate quotation in this example requires the borrower to pay four points to the lender up front and repay the loan later with 7.6 percent interest. 309611ij a. What rate would you actually be paying here? (Do not round intermediate El calculations and enter your answer as a percent rounded to 2 decimal places, e.9., 32.16.) . b. What is the EAR for a one-year loan with a quoted interest rate of 10.6 percent plus fl two points? (Do not round intermediate calculations and enter your answer as a s @ percent rounded to 2 decimal places, e.g., 32.16.) $9474 M, E a. Interest rate b. EAR References is your answer affected by the loan amount? Yes 7091176.ij 7,332 M