Fees You take out a 2-year, $8.000 loan at 8% interest with monthly payments. The fender charges you a $100 fee that can be paid off, interest free, in equal monthly installments over the life of the loan. Thinking of the fee as additional interest, what is the actual annual interest rate you will pay? (Round your answer to two decimal places.) % Need Help? Read it (-/1 Points) DETAILS WANEFM7 2.3.085. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Savings You wish to accumulate $100,000 through monthly payments of $600. If you can earn interest at an annual rate of 4% compounded monthly, how long to the nearest year) will it take to accomplish your goal? Need Help? Read Watch