Syed just borrowed $27,800 to buy a used minivan. The terms of the loan require him to make equal regular quarterly payments for 7 years plus an extra payment of $3,200 in 7 years. His first regular quarterly payment is due in 3 months. If Syeds regular quarterly payment is $1,642.92, then what is the EAR of his loan? Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.