Question $18(3\mathrm{.}57$ points$)$

If the APR $($annual percentage rate$)$ of your Wells Fargo credit card is stated to be $21\mathrm{.}48\%,$ with interest paid monthly, what is the card's EFF$\%($i$.$e$.,$ effective annual rate$)?$

$24\mathrm{.}62\%$

$22\mathrm{.}41\%$

$23\mathrm{.}73\%$

$26\mathrm{.}07\%$