please help

Bank A offers to lend you 51,000,000 at a nominal rate of 6%, compounded monthly. The loan (principal plus interest) must be repaid at the end of the year. Bank B also offers to lend you the 51,000,000, but it will charge 6.40%, with interest due at the end of the year. What is the difference in the effective annual rates charged by the two banks? 0.40% 0.136 0.23% p.30\% 833