First National Bank pays 6.1% interest compounded semiannually. Second National Bank pays 6% interest, compounded monthly. a. Calculate the future value for each dollar invested in First National (Assume you invest $1). (Do not round intermediate calculations. Round your answer to 5 decimal places.) Future value $ b. Calculate the future value for each dollar invested in Second National (Assume you invest $1). (Do not round intermediate calculations. Round your answer to 5 decimal places.) Future value $ c. Which bank offers the higher effective annual rate? Second National Bank First National Bank