a)

b)

Assume a bank offers an effective annual rate of 6.49%. 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)) A bank offers 5.00% 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))