Assume you take out a car loan of $$7,700$ that calls for $60$ monthly payments of $$210$ each.

What is the APR of the loan?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places. Use a financial calculator or Excel.

What is the effective annual interest rate on the loan?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.