You go to Gary's Used Cars in search of a new (to you) car. Since you don't have a lot of money, you tell Gary that you must limit your monthly payment to $100. Gary shows you a nice, clean 1985 Yugo, which he offers to sell you for $3,000 cash (assume that $3,000 is the fair market value of the car). Or, if you would like to finance the purchase, you may choose to make 60 monthly payments of $100 each, with the first payment beginning one month from today. If you decide to finance the car, what nominal annual rate of interest (rounded to the nearest tenth of a percent) would you be paying on this loan? a. 16.5% b. 28.7 c. 31.6% d. 33.0%