Suppose your credit card issuer states that it charges a $25\mathrm{.}00\%$ nominal annual rate, but you must make monthly payments, which amounts to monthly compounding. What is the effective annual rate?

a$.28\mathrm{.}07\%$

b$.25\mathrm{.}00\%$

c$.27\mathrm{.}44\%$

d$.26\mathrm{.}56\%$

e$.27\mathrm{.}14\%$