Problem 5-30 Annuities (L04) You have just borrowed $270,000 to buy a condo. You will repay the loan in equal monthly payments of $3.555 33 over the next 20 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. Whatrate 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