Question: Use the add - on method for determining interest on a loan of $ 8 9 0 , with an annual rate of 8 %

Use the add-on method for determining interest on a loan of $890, with an annual rate of 8% and a term of 4 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 a whole number.)
Use the add-on method for determining interest on a loan of

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