PRO Your answer is correct. What is the annual percentage rate (APR) on a loan that charges interest of 0.77 percent per month? (Round answer to 2 decimal places, e... 2.25.) Annual percentage rate 9.24 Click if you would like to show Work for this question: Open Show Work LINK TO TEXI Attempts: 1 of 2 used (b) % your answer is incorrect. Try again. What is the effective annual rate (EAR) on the loan described in (a)? (Round answer to 2 decimal places, e., 2.25.) Effective annual rate 110.92 Click if you would like to Show Work for this question: Open Show Work