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P 20-13 (similar to) Question Help The Needy Corporation borrowed $10,100 from Bank Ease. According to the terms of the loan, Needy must pay the

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P 20-13 (similar to) Question Help The Needy Corporation borrowed $10,100 from Bank Ease. According to the terms of the loan, Needy must pay the bank $319 in interest every three months for the three-year life of the loan, with the principal to be repaid at the maturity of the loan. What elfective annual rate (EAR) is Needy paying? The effective annual rate is % (Round to one decimal place)

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