Problem 12 Intro You're offered a loan for $200,000 at an APR of 8%. The loan is for 5 months and interest is only paid at the end. The loan has a compensating balance requirement of 8% of the amount borrowed that reduces the usable loan amount. | Attempt 1/10 for 8 pts. Part 1 What is the effective annual rate of the loan? 3+ decimals Submit