a bank charges an interest rate of 2.75% per quarter what interest rate must the bank quote on this lending arrangement? Do not found intermediate calculations. Round the final answer to 2 decimal places. Omit the sign in your response. For example, an answer of 15 39% should be meted as 15:39 A bank has offered you a $500,000 mortgage at a quoted rate of 4%. The mortgage calls for monthly payments based on a 20-year amortization period. What discount rate would you use to find the amount of your monthly payments? Do not round Intermediate calculations. Round the final answer to 2 decimal places, Omit the sign in your response. For example, an answer of 15.396 should be entered as 15:39