Question 34 6 pts You want to borrow $10,000 for three years. The interest is 12 percent a year. You and lender agree that the interest on the $10,000 will be $3,600 for three years. So the lender deducts this amount from the loan and gives you $6,400. You repay the $10,000 in three years, thereby paying $3,600 interest as agreed. What is the effective annual interest rate on this loan