[Solved] Suppose you take out a margin loan for $7

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Suppose you take out a margin loan for $75,000. You pay a 6.4 percent effective rate. If you repay the loan in two months, how

Suppose you take out a margin loan for $75,000. You pay a 6.4 percent effective rate. If you repay the loan in two months, how much interest will you pay?

I know we need to use EAR in the form of (1+x)^2=.064 to find the interest rate, but I am having trouble solving that simple equation.

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