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Current Attempt in Progress To start a new business, Alysha intends to borrow $ 1 4 , 0 0 0 from a local bank. If

Current Attempt in Progress
To start a new business, Alysha intends to borrow $14,000 from a local bank. If the bank asks her to repay the loan in 5 equal annual instalments of $3,693.16, determine the bank's effective annual interest rate on the loan transaction. With annual compounding, what nominal rate would the bank quote for this loan? (Round answer to 0 decimal places, e.g.15%.)
Effective annual interest rate
Nominal rate
%
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