Bank One offers to lend you $50,000 at a noininal rate of 7.1%, compounded monthly. Bank Two also offers to lend you the $50,000. but it will charge a nominal rate of 7.375 , compounded asnually. What is the difference in the Effective rate of two banks and which Bank would you go to for the Loan. (Use two decimal points for difference, xx4)2) 0.035k. Choose Bank 1 0.03%, Choose Bank 2 0.04%, Choose Bank 1 0.04%, Choose Bank 2 0.0%. Same effective rate, choose Bank 1 or 2