1.Your bank offers a 3-year certificates of deposit with a stated rate of interest of 12.60% p.a., compounded quarterly. Your cousin (who works at acme bank and Trust, a competitor) wants to know what stated rate of interest you would require from them in order to switch your business to their bank. Acme's CD's are compounded on a monthly basis. What is the minimum stated interest rate you should ask for from Acme in order to make you indifferent to switching? (Round answer to two decimal places)