A loan of $2,600 for a new, high-end laptop computer is to be repaid in 13 end-of-month payments (starting one month from now). The monthly payments are determined as follows. Loan principal Interest for 13 months at 1.5% per month Loan application fee Total Monthly payment- $3,137.68/13- $241.36 $2,600 507.00 30.68 $3,137.68 What nominal and effective interest rates per year are actually being paid? Hint: Draw a cash-flow diagram from the perspective of the lender