The Needy Corporation borrowed from Bank Ease. According to the terms of the loan, Needy must pay the bank in interest every three months for the three-year life of the loan, with the principal to be repaid at the maturity of the loan. What effective annual rate (EAR) is Needy paying? Question content area bottom Part 1 The EAR Needy is paying is enter your response here%. (Round to one decimal place.)