Ryan needs $$5600$ to buy an engagement ring. His friend agrees to lend him $$5600$ to be repaid with interest in one year at a nominal annual interest rate of $5\%$ but with interest

compounded quarterly.

$(1)$ What is the effective annual rate of interest?

$\%($Please keep three decimals$)$

$(2)$ How much does Ryan need to pay his friend at the end of the year?

$

$($Please keep two decimal$)$