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Big Dom's Pawn Shop charges an interest rate of 1 3 . 5 percent per month on loans to its custc report an APR to

Big Dom's Pawn Shop charges an interest rate of 13.5 percent per month on loans to its custc report an APR to consumers.
a. What rate should the shop report?
Note: Do not round intermediate calculations and enter your answer as a percent rou
b. What is the effective annual rate?
Note: Do not round intermediate calculations and enter your answer as a percent rou
Answer is complete but not entirely correct.
\table[[a. Annual percentage rate,1.62
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