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You take out a two-year, $8000 loan at 8% interest with monthly payments. The lender charges you a $100 fee that can be paid off,

You take out a two-year, $8000 loan at 8% interest with monthly payments. The lender charges you a $100 fee that can be paid off, interest free, and equal monthly installments of the life of the loan. Thinking of the fee as an additional interest, what is the actual annual interest rate you will pay? Round your answer to two decimal places.
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