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0. You've borrowed $2,580.77 and agreed to pay back the loan with monthly payments of $100, If the interest rate is 12% stated as an

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0. You've borrowed $2,580.77 and agreed to pay back the loan with monthly payments of $100, If the interest rate is 12% stated as an APR, how long will it take you to pay back the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Payback period b. What is the effective annual rate on the loan? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) years Effective annual rate on the loan

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