Bank A charges a 7.75 percent annual percentage rate and interest is due at the end of the year. Bank B charges a 7 percent annual percentage rate and interest must be paid monthly. What is the annual percentage yield charged by each bank? a. Bank A: 7.25 percent; Bank B: 7.5 percent b. Bank A: 7.85 percent; Bank B: 8.15 percent c. Bank A: 7.85 percent; Bank B: 7.23 percent d. Bank A: 7.75 percent; Bank B: 7.23 percent