4. Discount loan. Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is providing one-year discount loans at 8.3%. What is the effective annual rate on these loans? If you were required to repay $275,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? If you were required to repay $275,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? (Round to the nearest dollar.) What is the effective annual rate on this loan? % (Round to three decimal places.)