Problem 5-30 Annuities (L04) You have just borrowed $250,000 to buy a condo. You will repay the loan in equal monthly payments of $2.0156 over the next 30 years a. What monthly interest rate are you paying on the loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) b. What is the APR? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) c. What is the effective annual rate on that loan? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) d. What rate is the lender more likely to quote on the loan? b. Monthly interest rate APR Effective annual rate Whatrate is the lender more likely to quote on the loan? % % % c d. APR