Question: Lab 8 Chapter 8 Help Save & Exit Submit 2 10 points Your bank will lend you $8,800 for 60 days at a cost of

Lab 8 Chapter 8 Help Save & Exit Submit 2 10 points Your bank will lend you $8,800 for 60 days at a cost of $151 interest o. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual rate of interest b. What is your effective annual rate? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective annual rate elok Print References

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