(Calculating an EAR) After examining the various personal loan rates available to you, you find that you can borrow funds from a finance company at 12 percent compounded semiannually or from a bank at 13 percent compounded quarterly. Which alternative is more attractive? If you can borrow funds from a finance company at 12 percent compounded semiannually, the EAR for the loan is nothing%. (Round to two decimal places.)