#3 Assume a bank offers an effective annual rate of 6.15%. If compounding is monthly what is the APR? Submit Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434)) unanswered not_submitted Attempts Remaining: 5 #4 A bank offers 6.00% on savings accounts. What is the effective annual rate if interest is compounded semi-annually? Submit Answer format: Percentage Round to: 4 decimal places (Example 9.2434%, % sign required. Will accept decimal format rounded to 6 decimal places (ex: 0.092434))