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WilliamBrownbought a Honda Civic for $17,345. He put down $6,000 and financed the rest through the dealer at an APR of9.3percent for four years. What

WilliamBrownbought a Honda Civic for $17,345. He put down $6,000 and financed the rest through the dealer at an APR of9.3percent for four years. What is the effective annual interest rate (EAR) if the loan payments are made monthly?(Round answer to 2 decimal places e.g. 15.25%.)

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