A loan is offered with monthly payments and a $11\mathrm{.}25$ percent APR. What's the loan's effective annual rate $($EAR$)?$ Note: Do not round intermediate calculations and round your percentage answer to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34).$

Answer is complete but not entirely correct.

$56$

$\backslash$table$[[$Effective annual rate,$12\mathrm{.}06,\%$