Abe is offered a loan of $$20,000$ that requires $60$ monthly payments of $$422\mathrm{.}19.$

What is the effective annual interest rate on this loan? $($Round intermediate calculations to $5$ decimal places, e$.$g$.5\mathrm{.}12534\%$ and final answer to $2$ decimal places, e$.$g$.25\mathrm{.}12\%.)$

$1-$ Annual interest rate

$\%$

$2-$ What would the quoted rate be$?($Round answer to $2$ decimal places, e$.$g$.25\mathrm{.}12\%.$ Do not round your intermediate calculations.$)$

Quoted rate

$\%$