You just borrowed $110,000 to buy a condo. You will repay the loan in equal monthly payments of $1,158.55 over the next 25 years. a. What monthly interest rate are you paying on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Monthly interest rate % b. What is the effective annual rate on that loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Effective annual rate % c. What rate is the lender more likely to quote on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Lender more likely to quote %