Suppose you take out an add-on loan from the bank of $8771 to help you pay for renovations to your downtown condo. If you agree to pay off the loan in 6 years with monthly payments of $339, what is the interest rate applied on this loan (what is r')? Give your answer as a decimal rounded to 2 decimal places Answer: Suppose you take out an add-on loan from the bank of $8771 to help you pay for renovations to your downtown condo. If you agree to pay off the loan in 6 years with monthly payments of $339, what is the interest rate applied on this loan (what is r')? Give your answer as a decimal rounded to 2 decimal places