Question: Please help - Note, there isn't more information needed as flagged. The question only displays this information here. You are looking at a one-year loan

Please help - Note, there isn't "more information needed" as flagged. The question only displays this information here.

Please help - Note, there isn't "more information needed" as flagged. The

You are looking at a one-year loan of $20,000. The interest rate on a one-year loan is quoted as 10.9 percent plus three points. What is the EAR of this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual rate Is your answer affected by the loan amount? O Affected O Not affected

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