T U LCucaul.CUITW Connect.html mework Saved A store will give you a 5.00% discount on the cost of your purchase if you pay cash today. Otherwise, you will be billed the full price with payment due in 1 month. What is the implicit borrowing rate being paid by customers who choose to defer payment for the month? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Effective annual rate