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You want to buy a new sports coupe for $71,827, and the finance office at the dealership has quoted you a 9 percent APR loan

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You want to buy a new sports coupe for $71,827, and the finance office at the dealership has quoted you a 9 percent APR loan for 70 months to buy the car. What is the effective annual rate on this loan? (Enter your answer as a percentage, omit the "\%" sign in your response, and round your answer to 2 decimal places. For example, 0.12345 or 12.345% should be entered as 12.35.)

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