First National Bank pays $6\mathrm{.}2\%$ interest compounded semiannually. Second National Bank pays $6\%$ interest compounded monthly.

a$.$ Calculate the effective annual rate for each bank.

Note: Do not round intermediate calculations. Enter your answers as a percent rounded to $2$ decimal places.

$\backslash$table$[[,\backslash$table$[[$Effective Annual$],[$Rate$]]],[$First National Bank,$],[$Second National Bank,$]]$

b$.$ Which bank offers the higher effective annual interest rate?

First National Bank

Second National Bank