You have just seen an ad for season tickets to the 2022 and 2023 Colts games. The ad says these double-season tickets can be purchased today for $6,000. Alternatively, they can be purchased on the installment plan, for a monthly payment of $300, to be paid at the beginning of each month for 24 months (the first payment is due on the day you buy the tickets). What is the Effective Annual Rate (EAR) on the installment purchase?