first bank is ending alumni of universities an invitation to obtain a credit card, with the name of their university written on it, for nominal 9.9% interest per year after 6 months of 0% interst. These interest rates apply to outstanding debt if not paid by specified date each months, and hence interest is compounded monthly. If you fail to make the minmum payment in any month, your interest rate could increase (without notice) to a nominal 19.19% per year. Calculate the effictive annual interest rates the credit card company is charging in both cases. please show the work and explain