If the 23 percent interest rate quoted on Dave's loan had been compounded monthly, what would have been the effective annual interest rate charged on the loan? (Round your answer to 2 decimal places. Omit the "\%" sign in your response.) Effective annual rate of interest ]% What are the interest cost and the total amount due on a six-month loan of $1,700 at 8 percent simple annual interest? (Do not round your intermediate calculations. Round your final answers to the nearest dollar amounts. Omit the "\$" sign in your response.)