The 17th National Bank of Tuscaloosa offers a 3 year line of credit in the amount of $12,000 The account carries a 12.20% APR with quarterly compounding. At the end of 1 year, how much interest have you pai and what is the banks effective annual rate? $1,532, 12.77 $1,159, 14.69 $1,159. 12.77% $1,532, 14.69 51,332, 12.77%