Question: Question 3 Use the add-on method for determining interest on a loan of $2350, with an annual rate of 8% and a term of 2

Question 3

Use the add-on method for determining interest on a loan of $2350, with an annual rate of 8% and a term of 2 years. Then, determine the annual interest rate during the last month of the loan.

During the last month of the loan, the annual interest rate is __%.
(Type whole number.)

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