Sterling Motors offers to lend you $24,000 to buy a car, the loan calls for payments of $478.06 per month for 6 years. Which of the following statements is most CORRECT? (Use six decimal places.) A. The monthly rate of interest is 1.08 percent. B. The nominal annual rate of interest is 12.706 percent. C. The effective annual rate of interest is 7.50 percent. D. The monthly rate of interest is 0.7845 percent. E. The effective annual rate of interest is 12.706 percent