Jan Dumont visited her banker to determine the amount of interest she would earn on $11,500 deposited for 5 years. The banker indicated that the total interest earned would be $1.725.00 over 5 years on a simple basis. Jan determined that the simple interest rate must be %. But, the banker advised her, you could earn an additional $106.65 if the interest rate was annually. Answer part 1 using two decimal places Answer part 2 using a single word, all lower case