Question: Submit T Test: Lab 3 This Question: 1 pt 8 of 10 (0 complete) This Test: 10 pts poss What is the effective annual rate

Submit T Test: Lab 3 This Question: 1 pt 8 of 10 (0 complete) This Test: 10 pts poss What is the effective annual rate of interest if $800.00 grows to $1100.00 in four years compounded monthly? The effective annual rate of interest as a percent is %. (Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as needed.)

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