Maria applies for a loan for the same car that Ishtaq is buying. Unfortunately, her bank now imposes a 3% loan origination. Maria's loan is for 250,000 dirhams to buy the same 350,000 dirham car, (but in a different color, of course). The interest rate for a conventional fixed-rate, fixed-term, amortizing loan is 3% per year. She takes the loan for 5 years (60 months) and will make equal monthly payments for 60 months. Assume that Maria continues to make regular payments for the next 60 months What annual effective interest rate (rounded to 2 decimal places) does Maria pay over the 5-year term of her loan?