Bill Blank signed an $7,500 note at Citizen's Bank. Citizen's charges a 5.40% discount rate. Assume the loan is for 270 days. a. Find the proceeds. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest cent.) Proceeds b. Find the effective rate charged by the bank. (Use 360 days a year. Do not round intermediate calculations. Round your answer to the nearest tenth percent.) Effective rate