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no cursive EX Sut a. You've borrowed 54,129.23 and agreed to pay back the loan with monthly payments of $160. If the interest rate is

no cursive
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EX Sut a. You've borrowed 54,129.23 and agreed to pay back the loan with monthly payments of $160. If the interest rate is 12% stated as an APR, how long will take you to pay back the loan? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Mayback period Year b. What is the effective annual rate on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places:) Etfective annual rate on the loan

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