You check your credit card balance, and notice that the interest rate is quoted as $16\mathrm{.}3\%$ APR. You also know that interest is compounded monthly. What is the Effective Annual Rate on your credit card?

Enter your answer as a percentage, rounded to two decimals, and without the percentage sign $(\text{'}\%\text{'}).$ For example, if your answer is $0\mathrm{.}123456,$ then it is equivalent to $12\mathrm{.}35\%,$ so you should enter $12\mathrm{.}35$ as the answer.