You are offered a credit card with an APR of $18\mathrm{.}20\%,$ based on monthly compounding. What is the annual effective rate? If you took a cash advance of $$100$ against that card, and made no payments for an entire year, how much would you owe at the end of that year?

APR Compound per Year Loan

$18\mathrm{.}20\%12$ $$100$

What is the effective annual rate? Do not round intermediate calculations.

The effective annual rate is

$\%.$ Round your answer to the nearest two decimal places.

What were the realized returns for the year?

The realized returns for the year were $

$.$ Round your answer to the nearest cent.