Intro You're about to buy a new car for $10,000. The dealer offers you a one-year loan where you pay $905.42 every month for the next 12 months. Since you pay $905.42 * 12 = $10,865 in total, the dealer claims that the loan's annual interest rate is (10,865-10,000)/10,000 = 8.65%. Part 1 What is the actual effective annual rate? 3+ decimals Submit BAttempt 4/10 for 10 pts. Part 2 What rate should the dealer quote by law? BAttempt 1/10 for 10 pts. 3+ decimals Submit