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Big Dom's Pawn Shop charges an interest rate of 17.25 percent per month on loans to its customers. Like all lenders, Big Dom must teport

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Big Dom's Pawn Shop charges an interest rate of 17.25 percent per month on loans to its customers. Like all lenders, Big Dom must teport on APR to consumers. a. What rote should the shop report? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.9.,32.16. b. What is the effective annual rate? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16

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