Lauren is considering borrowing money from a lender company. Whenever she borrows $350, she must pay back $375 a month later. If starting from January 1st, she borrows $350 per month at the beginning of each month for 12 months in a row, find the effective annual interest rate (i') that he is paying? Hint: Draw a cash-flow diagram from the viewpoint of the lender and consider January 1st as time 0