Assume that on December 31,2017 , The Coca-Cola Company borrows money from a consortium of banks by issuing a $900 million promissory note. The note matures in four years on December 31 , 2021, and pays 3% interest once a year on December 31 . The consortium transfers $867.331 million rounded) to Coca-Cola. What is the effective interest rate? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a 2.58% b 4.24% c 4.0% d 3.0%