What is the effective annual interest rate (EAR) of 5-year car loan for $10,000 that has monthly (end of the month) payments of $361.33?

Question 8 options:

1)

36.00%

2)

18.00%

3)

39.00%

4)

46.78%

5)

3.25%

6)

42.58%

7)

3.00%

8)

19.56%

9)

1.50%