You want to buy a new sports coupe for $88940, and the finance office at the dealership has quoted you a 6.4 percent APR loan for 68 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.)