An investment of $5,000 in a TFSA (Tax Free Savings Account) accumulated to $5,240 at the end of one year at a monthly compounding interest rate. However, the interest rate after year one changed and the balance in the account at the end of year two was $5,570. a. Calculate the nominal interest rate for the first one year. % Round to two decimal places b. Calculate the effective interest rate earned by this investment over the two years