Problem 8-6 Effective rote on discounted loon (L08-21 Sol Pine borrows $4,200 for one year at 8 percent interest What is the effective rate of interest in the loan is discounted? (Do not round intermediate calculations. Use a 360 day year. Input your answer as a percent rounded to 2 decimal places) sook % ANK Ellective rate on a discounted loan ferences Mc Graw HII 40F Type here to search ELE