v (a) Your answer is correct. What is the annual percentage rate (APR) on a loan that charges interest of 0.78 percent per month? (Round answer to 2 decimal places, e.g., 2.25.) Annual percentage rate 9.36 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Attempts: 2 of 2 used (b) What is the effective annual rate (EAR) on the loan described in (a)? (Round answer to 2 decimal places, e.g., 2.25.) Effective annual rate % Click if you would like to Show Work for this question: Open Show Work