A student buys a computer for his online classes. The student agrees to pay the retailer $102.78 at the end of each month for two years. The retail price of the computer is $2,000. Dont round your calculations. What is the annual percentage rate (APR) for the loan?

Select one:

a. 22.0%

b. 20.5%

c. 21.5%

d. 19.5%

e. 21.0%