QUESTION 19 Farmers Bank offers to lend you $50,000 at a nominal rate of 5.0%, simple inter Merchants Bank offers to lend you the $50,000, but it will charge 6.8%, simple interest, with interest paid at the end of the year. Wh est, with interest paid quarterly. at's the difference in the effective annual rates charged by the two banks? a. 1.73% a, b, 2.07% () c. 2.12% d. 2.00% @ e. 1.71%