Can someone please help me solve for j at the end. I don't understand how to solve for j and then to convert that to interest rate.

I get to 10.61154 = 11 j

I don't know what to do from here to get to an answer.

Thank you.

Question 10 2 pts A loan of $15,600 is to be repaid within one year with level monthly payments, due at the beginning of each month. The 12 payments equal $1,300 each. A finance charge of $505 is also due with the first payment. Which of the following is closest to the effective annual interest rate on the loan? [3.h-i #15] O 7.5% 0 7.6% O 7.9% O 7.7% O 7.8%